Toyota Motor Corp. said Wednesday it will cooperate with Thai conglomerate Charoen Pokphand Group in producing hydrogen from farm waste and introducing fuel cell trucks in Thailand in a bid to achieve carbon neutrality in the Southeast Asian country.

Akio Toyoda, president of Toyota, told reporters in Bangkok that Toyota and CP have agreed to utilize each other's strengths and assets to reduce carbon dioxide emissions, saying, "I believe taking this crucial step will change the future landscape."

He said the two firms need to take a "holistic approach" in reducing emissions in Thailand and stressed hydrogen as a clean fuel, noting using electric vehicles is not the only way to achieve the carbon neutrality goal.

Hydrogen, which can be extracted from biogas produced from farm waste, will power fuel-cell trucks that CP plans to introduce, according to Toyota. The two companies will also study ways to make logistics in Thailand more energy-efficient by utilizing connectivity technology.

Dhanin Chearavanont, senior chairman of CP, said in a statement that the two companies will "welcome any companies that share the same carbon neutrality ambitions" to join the cooperation.

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