Toyota to Reduce Costs of Fuel Cell Vehicles

Toyota Motor Corp. (Tokyo, Japan) is working to reduce the costs of fuel cell vehicles by concentrating on reducing the volume of platinum used for catalysts. Toyota has also decided to tackle cost reduction. The company's new method is expected to help lower costs by 1/50. Toyota plans to develop highly efficient materials that can replace platinum used for catalysts based on technology accumulated through gasoline engine catalyst development. Toyota has set a 2005 FCEV sales target at 300,000 units.