Subsidiaries of Chevron U.S.A. Inc. and Toyota Motor Corp. said Wednesday they will join forces to develop “viable” and “large-scale businesses” to capitalize on the ascension of hydrogen as a clean source of fuel, including to meet expected future demand for fuel cell electric vehicles.

global hydrogen production in the sustainable development scenario

The energy and auto majors said in a joint release they would collaborate on public policy measures to support the build-out of hydrogen infrastructure and pursue research and development in hydrogen-powered transportation and storage. This could include assessing and addressing current and future market demand as well as supply opportunities for light-duty and heavy-duty fuel cell electric vehicles.

“We are excited to collaborate with Toyota. Working towards a strategic alliance on...