Jan 23 Japanese automaker Toyota Motor Corp
is nearing an agreement to license its fuel-cell
vehicle technology to Germany's BMW AG, the Nikkei
Under the agreement, to be made official as early as
Thursday, Toyota will provide the world's largest premium
carmaker with drivetrain and hydrogen storage technology, the
business daily said.
BMW will use the technology to build a prototype vehicle by
2015, with plans for a market release around 2020, the Nikkei
Fuel cells convert a fuel, typically hydrogen, into
electricity, which can then be used to power cars and trucks.
Fuel-cell vehicles can run five times longer than battery
electric cars on a single power-up, and it takes just minutes to
fill the tank with hydrogen, compared with 8 hours or so to
recharge a battery.
Rivals like Daimler AG, General Motors Co,
Nissan Motor Co, Honda Motor Co and Hyundai
Motor Co are all competing to develop fuel-cell
vehicles, the daily said.
(Reporting by Mridhula Raghavan in Bangalore; Editing by