- Chris Hostetter discusses investment in fuel cells and hydrogen infrastructure in “The Road to Profit in Alternative Fuels” panel
- Toyota serves as the first automaker to sponsor the conference
LOS ANGELES (April 30, 2014) – How to bring the future of fuel efficient mobility to drivers across America was the challenge posed by Toyota during the 2014 Milken Institute Global Conference today in Los Angeles.
In a panel titled “The Road to Profit in Alternative Fuels,” Toyota group vice president of strategic planning Chris Hostetter helped advance the national conversation around the future of the fuel cell vehicles and hydrogen refueling infrastructure. Panel participants discussed the business opportunity for this promising zero-emission technology and the investment required to make it accessible and convenient for drivers.
2014 marks the first time Toyota has participated in the Milken Institute Global Conference, held from April 27-30 at the Beverly Hilton in Los Angeles, California, and the first time an automotive company has sponsored the annual event in its 17-year history.
“Toyota is deeply committed to the future of fuel cell vehicles,” said Hostetter, “because it is a no-compromise vehicle that offers cost, convenience, reliability, performance and safety that will match – or even exceed – traditional powertrains. But the future of fuel cells will be defined by the ownership experience and access to a convenient hydrogen infrastructure. The Milken Institute Global Conference is the perfect place to bring together energy providers, investors and a broad range of leaders to discuss how we can work together to make this technology a reality.”
Today’s panel was moderated by Joel Kurtzman, senior fellow and executive director of the senior fellows program at the Milken Institute, and also featured co-panelists Yossie Hollander, chairman and co-founder of Fuel Freedom Foundation, Andrew Littlefair, president and chief executive officer of Clean Energy Fuels Corporation, and James Cameron, chairman of Climate Change Capital.
Toyota, which has put more than 6 million hybrid vehicles on the road around the world since 1997, has set hydrogen fuel cell vehicles as a key research and development priority. The company has committed to introducing a zero-emission hydrogen fuel cell sedan (FCV) by 2015.
For more information about the Toyota Car of the Future, please visit www.toyota.com/fuelcell.
Toyota (NYSE:TM) established operations in North America in 1957 and currently operates 14 manufacturing plants. There are more than 1,800 Toyota, Lexus and Scion dealerships in North America which sold over 2.3 million vehicles in 2012. Toyota directly employs nearly 39,000 people in North America and its investment here is currently valued at more than $27 billion, including sales and manufacturing operations, research and development, financial services and design. Toyota's annual purchasing of parts, materials, goods and services from North American suppliers totals over $26 billion.