Toshiba,UTC In JV To Develop Electric Car Fuel Cells
TOKYO (Nikkei)--Toshiba Corp. (J.TOS or 6502) and United
Technologies Corp. (UTX) of the U.S. will join forces to develop small fuel
cells, considered the most promising power source for electric cars, The
Nihon Keizai Shimbun reported in its Sunday edition, citing Toshiba
officials. The two companies set up a joint venture in the U.S. Saturday,
aiming to start commercial production in 2003.
The global market for fuel cells for cars, which cut emission of carbon
dioxide and other toxic gases, is expected to reach Y800 billion in annual
sales within some 10 years.
UTC, a major manufacturer of aircraft parts, is estimated to hold about
90% of the new company, International Fuel Cell, with Toshiba owning the
remainder. The joint venture, based in Connecticut, plans to develop small,
energy-saving fuel cells capable of generating 50 kilowatts by 2000. The
fuel cell will be twice as energy efficient as gasoline engines, the officials
said. |
