Daimler, the German parent company of Mercedes-Benz, has a long history of fuel cell development, as does Toyota. Both automakers have been busily developing their separate hydrogen fuel cell technology since the early 1990s, and it should come as no surprise that such projects don't come cheap.
As such, the two giant companies are reportedly pounding out a partnership that will see them jointly developing hydrogen fuel cell technology. According to the Financial Times Deutschland (via Reuters), Toyota and Daimler plan "extensive cooperation in the field of fuel cells for electric cars." At this point, neither automaker is willing to comment on the report.
General Motors, Ford, Nissan, Honda and Hyundai are also working to make hydrogen fueling a reality, but some significant hurdles still remain, including high cost and the lack of a suitable fueling infrastructure. Time will tell if high-profile partnerships, such as the one apparently being struck between Daimler and Toyota, will result in any zero-emission consumer vehicles.