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HyFive hydrogen infrastructure gets $51M boost across Europe

"High five!" was one of the catch-phrases of Sacha Baron Cohen's Kazakh comedic alter ego Borat. A real-world HyFive is being announced by a power broker named Boris. And this is serious business. London Mayor Boris Johnson has announced a program called HyFive, which will see automakers and other entities invest 31 million British pounds ($51 million US) in a demonstration project for hydrogen fuel-cell vehicles. By next year, London will have three hydrogen refueling stations, while there will be one each in the Danish cities of Aarhus and Odense and one in Innsbruck, Austria. Leaders of the program are planning for other stations in Sweden, Germany and Italy. The five participating automakers are BMW, Mercedes-Benz parent Daimler, Honda, Hyundai and Toyota, while other companies involved include Copenhagen Hydrogen Network, ITM Power and Linde. Those OEMs will make 110 fuel-cell vehicles available for deployment in Bolzano, Copenhagen, Innsbruck, London, Munich and Stuttgart. The program represents an effort to address the "chicken or egg?" challenge inherent to establishing a hydrogen fuel cell vehicle market. While the powertrain technology provides benefits by combining fossil-fuel-like refueling times with long driving ranges and zero emissions, establishing a refueling network and building fuel-cell vehicles is prohibitively expensive, especially in low volumes. The London mayor is no stranger to green transportation technology. Late last year, Johnson made himself available for a photo opportunity with Ecotive and Frazer-Nash, which had developed a six-passenger extended-range plug-in taxicab. The mayor got a test drive in the cabs this week. You can check out the HyFive press release below. Global leaders sign up to GBP31m plan to demonstrate viability of hydrogen vehicles International project HyFive pioneers hydrogen fuel cell technology A pioneering GBP31 million deal will be struck today (3 April) to make hydrogen vehicles a viable and environmentally friendly choice for motorists across Europe. Leading motor manufacturers, hydrogen fuel suppliers, the Mayor of London's Office and energy consultancies from around the globe are signing up to the HyFive project, the largest of its kind in Europe, at City Hall in London today.

Unintended acceleration settlement hits Toyota's Q4 bottom line

Depending on how you want to look at things, the US Attorney's Office $1.2-billion dollar settlement with Toyota in March over its unintended acceleration recall was either a big blow to the company or completely inconsequential. From January to March, net income fell five percent to 297 billion yen ($2.89 billion), compared to 313.9 billion yen ($3.05 billion) a year ago. However, the automaker still posted record full-year profits worldwide.
Operating profit also fell in the US by 9 percent to $498.1 million for the quarter, but sales were up by 6 percent to 581,261 vehicles. According to Automotive News, global revenue was still up from January to March by about 13 percent and vehicle sales were up 6 percent to 2.58 million units.
However, the payment to the feds did little to hold the company back last year. For the fiscal year ending March 31, 2014, Toyota had net income of 1.82 trillion yen ($17.7 billion), compared to 962.1 billion yen ($9.5 billion) in the last fiscal year. Total vehicle sales were also up.

Tesla now California's top automotive employer

Tesla has knocked off Toyota as the biggest auto employer in the state of California, employing over 6,000 people to the Japanese company's 5,300. That lead is only likely to grow, as the EV manufacturer prepares to add another 500 jobs by the end of the year, and as Toyota begins its relocation to its new North American headquarters in Texas. The news comes barely a week after the company announced a $50 million loss during the first quarter of 2014.
Tesla's statewide employment could be set to double, beyond even 6,500 people, if it follows through on rumors to construct its eagerly awaited gigafactory in the Golden State. The $5-billion venture could add another 6,500 employees, making Tesla not just the largest automotive employer in the state, but making it one of the largest employers in the state full stop.
The investment of Tesla and its founder (and real-life Tony Stark), Elon Musk, has been substantial. The company has added 3,000 employees in the state since 2013, reopening the Toyota and General Motors joint-venture factory that use to be known as NUMMI in 2009 and constructing a design studio in Los Angeles, all in addition to its Palo Alto headquarters.