RTTNews | Apr 21, 2021 08:37AM EDT

08:22 Wednesday, April 21, 2021 (RTTNews.com) - Chevron U.S.A. Inc., through its Chevron Products Company division, and Toyota Motor North America, Inc. announced Wednesday a memorandum of understanding to explore a strategic alliance to catalyze and lead the development of commercially viable, large-scale businesses in hydrogen, with the goal to advance a functional, thriving global hydrogen economy.

Chevron and Toyota are seeking to work on three main strategic priorities: collaborating on hydrogen-related public policy measures that support the development of hydrogen infrastructure; understanding current and future market demand for light-duty and heavy-duty fuel cell electric vehicles and supply opportunities for that demand; and exploring opportunities to jointly pursue research and development in hydrogen powered transportation and storage.

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