Daihatsu, Toyota Motor Corp's minivehicle unit, also said its newly developed fuel cell uses hydrazine hydrate, a liquid industrial material, instead of hydrogen, as an alternative fuel that emits no carbon dioxide.

The new fuel cell generates power similar to that of existing hydrogen-based fuel cell, far more than fuel cell using other liquid fuel, like methanol, the company said.

Now that more countries focus on curbing carbon emissions and environment protection, major auto makers are involved in developing fuel-efficient vehicles including those without using fossil fuels.

"The new technology is giving us diversification in addition to our existing hydrogen-based fuel-cell technology," said Naoyuki Wakabayashi, a Daihatsu spokesman.

Currently, Daihatsu uses about 100 grams of platinum per vehicle in its hydrogen-based fuel-cell vehicles under development. Ordinary gasoline vehicles use about 5 gram per vehicle of platinum as a catalyst to filter out carbon monoxide and particulate emissions.

Cash platinum traded at around US$1,285 per ounce (31 grams) in early European trade on Friday, up more than 10 percent since the start of this year. Platium is mainly used in jewellery and auto catalyst, and is also considered as alternative financial assets to stocks and bonds.