TOKYO -- Toyota Motor, JXTG Holdings and other Japanese companies plan to build roughly 300 hydrogen filling stations for fuel cell cars over 10 years starting in 2018, aiming to encourage broader adoption while lowering costs.
A new company will be established for the project this year. Tokyo Gas, Idemitsu Kosan, industrial gas maker Iwatani and Honda Motor, among others, intend to invest in the venture alongside Toyota and JXTG, with the state-backed Development Bank of Japan considering a stake as well. Around 10 companies will sign a basic agreement soon regarding the new company, which will likely start with tens of billions of yen in capital.