Toyota and Chiyoda Develop Hydrogen Production System

News: Production

2024-02-27

Toyota and Chiyoda Develop Hydrogen Production System

JAPAN REPORT
Akihiro Komuro
Akihiro Komuro

Toyota Motor Corporation and Chiyoda Corporation have announced the joint development of a hydrogen production system. The two companies plan to begin demonstration tests at Toyota’s main plant in fiscal 2025 and hope to begin marketing the system around fiscal 2027.

The system will produce hydrogen by electrolyzing water. It will have an output of about 5 megawatts and will be able to produce about 100 kilograms of hydrogen per hour. The new plant has a footprint of 6 meters wide by 2.5 meters deep, about half the size of a typical plant. By linking multiple plants, the production volume can be significantly increased.

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Hyundai Shifts EV Plans, Introduces Genesis Hybrid

SOUTH KOREA REPORT

Hyundai Motor Company is developing a hybrid vehicle for its Genesis luxury brand. The company had planned to focus on EVs and FCVs for the Genesis, which will be launched after 2025. The recent slowdown in the growth of the EV market has forced the company to change its strategy.

According to industry insiders, Hyundai Motor is developing a hybrid engine and related systems for the Genesis, which is expected to be launched in 2025. Hybrid models will be added to the mainstream GV80 and GV70 models. The company plans to expand its HV lineup under the Hyundai Motor and Kia brands as well, having decided to introduce HVs under its luxury car brands due to the risk of slumping sales if it continues to shift more toward EVs. Hyundai Motor’s HV sales in 2023 were up 53% from the previous year to approximately 380,000 units.

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Japanese Car Share Plummets in Thailand, China Gains

THAILAND REPORT
Akihiro Komuro
Akihiro Komuro

The share of Japanese automakers in Thailand’s new car market, once considered a “stronghold for Japanese cars,” is plummeting. This is due to the rapid adoption of electric vehicles due to the government’s preferential policies and the rise of Chinese manufacturers focusing on electric vehicles. Thailand is also the largest automobile manufacturing base in Southeast Asia, and this could affect the entire regional market. According to a tally by Toyota Motor’s Thai subsidiary, the nine Japanese giants will have a combined market share of 77.8% in 2023. They once held a 90% share, but the 2023 mark was 7.6 percentage points lower than the previous year.

In Thailand, companies that import EVs can receive a subsidy of up to 150,000 baht (about $600,000) per vehicle and a tariff reduction of up to 40% if they sign a memorandum of understanding with the government. More than 10 companies, including Chinese EV giant BYD, have signed the MOU because of the lower selling price.

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2023 Domestic MC Shipments Increase 4%

JAPAN REPORT

Domestic motorcycle shipments increased for the first time in two years to 376,720 units in 2023, up 4% from the previous year. Class 2 mopeds, which have relatively low maintenance costs, performed well, increasing 47% year-on-year. The shortage of semiconductors and the easing of logistics disruptions also contributed to the increase in shipments.

Class 1 mopeds (50cc and below) fell by 29% to 92,824 units. Class 2 mopeds (over 50cc and under 125cc) were up 47% to 149,655 units, light motorcycles (over 125cc and under 250cc) were up 16% to 66,630 units and small motorcycles (over 250cc) were down 6% to 67,611 units.

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