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April 21, 2021, 8:19 a.m. EDT

Chevron, Toyota to collaborate on developing hydrogen businesses

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By Tomi Kilgore

Chevron Corp. /zigman2/quotes/205871374/composite CVX +1.48% subsidiary Chevron U.S.A. Inc. and Toyota Motor Corp.'s /zigman2/quotes/200537742/composite TM +1.54% /zigman2/quotes/203803129/delayed JP:7203 -1.09% Toyota Motor North America Inc. announced Wednesday an alliance to develop commercially viable, large-scale hydrogen businesses. The oil and auto giants will work to advance a global hydrogen economy through strategic priorities including collaborating on public policy measures that support hydrogen infrastructure, exploring supply opportunities from current and future demand for fuel cell electric vehicles and exploring ways to pursue research and development in hydrogen powered transportation and storage. "Working towards a strategic alliance on hydrogen presents an opportunity to build a large-scale business in a low-carbon area that is complementary to our current offerings," said Andy Walz, president of Chevron's Americas Fuels and Lubricants. Chevron's stock has rallied 24.1% over the past 12 months and Toyota shares have climbed 27.7%, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +2.07% has gained 51.1%.

/zigman2/quotes/205871374/composite
US : U.S.: NYSE
$ 117.92
+1.72 +1.48%
Volume: 11.42M
Dec. 7, 2021 4:02p
P/E Ratio
22.87
Dividend Yield
4.55%
Market Cap
$224.00 billion
Rev. per Employee
$1.98M
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/zigman2/quotes/200537742/composite
US : U.S.: NYSE
$ 187.44
+2.85 +1.54%
Volume: 245,085
Dec. 7, 2021 4:00p
P/E Ratio
9.01
Dividend Yield
2.16%
Market Cap
$252.22 billion
Rev. per Employee
$700,558
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/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 2,082.00
-23.00 -1.09%
Volume: 12.58M
Dec. 8, 2021 12:44p
P/E Ratio
9.32
Dividend Yield
2.31%
Market Cap
¥28615.71 billion
Rev. per Employee
¥74.30M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,686.75
+95.08 +2.07%
Volume: 2.48B
Dec. 7, 2021 5:05p
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