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Toyota Ties Up with Shell for Hydrogen Vehicles Stations
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Share price of Toyota Motor Corporation (TM - Free Report) rallied 0.09% to $114.4 on Feb 22, after the automaker announced plans to collaborate with Royal Dutch Shell Plc in order to construct seven fueling stations for hydrogen vehicles in California. This initiative will support California’s target of having 100 hydrogen fuel-cell retail sites for vehicles by 2024.
Toyota and Shell will be investing around $11.4 million in this program. The California Energy Commission is also thinking of making an allowance worth $16.4 million.
Toyota primarily focuses on manufacturing zero emission vehicles. However, the lack of charging stations poses a threat to the company’s expansion plans. Notably, California has only 25 charging stations.
In order to popularize fuel cell vehicles, Toyota is developing hydrogen fuel stations in collaboration with various partners. The automaker is also investing in FirstElement Fuel Inc., a startup that will install at least 19 hydrogen fuel stations in California. The company will start selling fuel cell buses in Japan from early 2017 in preparation of the 2020 Tokyo Olympic and Paralympic Games. Initially 100 such buses will be introduced with more to be rolled out as the Games draw near.
California lays emphasis on toughest clean-air rules and supports zero-emission vehicles. This will also support Toyota and Shell’s joint initiative. Shell is also focused on fuel cell vehicle. Shell operates six hydrogen stations, among them four are in Germany and two in the Los Angeles area. The company also plans to open the seventh near London’s Heathrow Airport later in Feb 2017.
Toyota underperformed the Zacks categorized Auto Manufacturers-Foreign industry over the last three months. Share price of the company decreased 0.1% while the industry saw a 1.6% increase. Weak guidance for fiscal 2017, frequent product recalls and large settlement on a U.S truck lawsuit remain concerns for Toyota.
For the current year, Honda, Fox Factory and General Motors expect earnings growth of around 27%, 16.6% and 9.4%, respectively.
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Toyota Ties Up with Shell for Hydrogen Vehicles Stations
Share price of Toyota Motor Corporation (TM - Free Report) rallied 0.09% to $114.4 on Feb 22, after the automaker announced plans to collaborate with Royal Dutch Shell Plc in order to construct seven fueling stations for hydrogen vehicles in California. This initiative will support California’s target of having 100 hydrogen fuel-cell retail sites for vehicles by 2024.
Toyota and Shell will be investing around $11.4 million in this program. The California Energy Commission is also thinking of making an allowance worth $16.4 million.
Toyota primarily focuses on manufacturing zero emission vehicles. However, the lack of charging stations poses a threat to the company’s expansion plans. Notably, California has only 25 charging stations.
In order to popularize fuel cell vehicles, Toyota is developing hydrogen fuel stations in collaboration with various partners. The automaker is also investing in FirstElement Fuel Inc., a startup that will install at least 19 hydrogen fuel stations in California. The company will start selling fuel cell buses in Japan from early 2017 in preparation of the 2020 Tokyo Olympic and Paralympic Games. Initially 100 such buses will be introduced with more to be rolled out as the Games draw near.
California lays emphasis on toughest clean-air rules and supports zero-emission vehicles. This will also support Toyota and Shell’s joint initiative. Shell is also focused on fuel cell vehicle. Shell operates six hydrogen stations, among them four are in Germany and two in the Los Angeles area. The company also plans to open the seventh near London’s Heathrow Airport later in Feb 2017.
Toyota Motor Corp Ltd Ord Price
Toyota Motor Corp Ltd Ord Price | Toyota Motor Corp Ltd Ord Quote
Price Performance
Toyota underperformed the Zacks categorized Auto Manufacturers-Foreign industry over the last three months. Share price of the company decreased 0.1% while the industry saw a 1.6% increase. Weak guidance for fiscal 2017, frequent product recalls and large settlement on a U.S truck lawsuit remain concerns for Toyota.
Zacks Rank & Key Picks
Toyota currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the auto space include Honda Motor Co., Ltd. (HMC - Free Report) , Fox Factory Holding Corp (FOXF - Free Report) and General Motors Company (GM - Free Report) . All the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For the current year, Honda, Fox Factory and General Motors expect earnings growth of around 27%, 16.6% and 9.4%, respectively.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? Last year's market-beating Top 10 portfolio produced 5 double-digit winners. For example, oil and natural gas giant Pioneer Natural Resources and First Republic Bank racked up stellar gains of +44.9% and +44.3% respectively. Now a brand-new list for 2017 has been hand-picked from 4,400 companies covered by the Zacks Rank. See the 2017 Top 10 right now>>