Toyota to enter biofuels production business in Japan

October 5, 2011 |

In Japan, Toyota Motor Corp. announced plans to commercialize a plant-based biofuel produced from a new strain of yeast developed in-house by 2020.

The Company stated that it will develop low-cost techniques to produce the biofuel over the next four to five years. Toyota may explore joint ventures with energy companies to help raise the tens of billions of yen capital required to commercialize the project.

Toyota aims to lower the price of biofuels and bring it on par with gasoline.

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