Toyota to form joint venture in China for fuel-cell vehicles

Economy

Toyota Motor Corp. will form a joint venture with Chinese fuel-cell maker Beijing SinoHytec Co. to manufacture key systems for fuel-cell vehicles. Toyota and SinoHytec signed a contract Monday to set up the 50-50 venture, Toyota Sinohytec Fuel Cell Co., with a total investment of about 8 billion yen ($72.8 million). The Japanese automaker and SinoHytec are currently engaged in research and development activities on fuel-cell buses. The new venture will be located in the Beijing Economic-Technological Development Area, a hub for high-end manufacturing in the Chinese capital, and start operation...

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