Easy street: why investors are hungry for hydrogen-fuelled driving

FINANCIAL TIMES đź”’| What was your worst investment decision? For Toyota, buying 2m Tesla shares at around $20 a share in 2010, then selling them again at $200 must be high on its list. Until a stock split that is happening on Monday, Tesla shares were this month changing hands for more than $2,000 each.

One of the reasons Toyota sold up four years ago was a growing divergence of views between the two carmakers on the future of transport — including the importance of hydrogen fuel cell technology.

In 2014, Toyota unveiled its prototype hydrogen-powered car, Mirai, the Japanese word for future. Tesla boss Elon Musk is not a believer. He has called fuel cells “fool cells” and insists battery-powered electric vehicles are the best alternative to the internal combustion engine. Tesla was the world's best-selling electric car last year. Toyota, though, has not given up hope.

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