Biofuels are an increasingly hot topic as oil prices soar. Their ability to reduce harmful emissions and boost local crop growers make them attractive propositions to many companies worldwide.
Toyota has seen success in the “green” car market with its electric hybrid Prius but the expensive nature of these vehicles can restrict their sale outside of prosperous nations. Biofuels have a much wider appeal, with their fuel stock often an easily obtained commodity in developing nations.
While European car manufacturers are examining the fuel potentials of biomass and liquid natural gas as fuel sources, Toyota’s partnership with BP will most likely capitalise on the growing biofuel industries in East Asian nations.
Although Thailand and Malaysia are creating strong biofuel infrastructure programs, Japan itself is yet to commit to a biofuels solution and Toyota could see itself as a national leader if it can develop an effective solution with BP.
“Alternative fuels will soon be needed in Japan too, but the industry is no closer to reaching agreement on materials and fuel composition,” said a Toyota spokesperson.
“We could see a plethora of different fuels.”
