Toyota, the biggest seller and manufacturer of hybrid vehicles, said that it has cut the cost of producing fuel-cell vehicles by 90 percent since the mid-2000s. The Japanese automaker said that it may be able to price its first retail hydrogen model at about $50,000 and may have it on the roads by 2015.
Yoshihiko Masuda, Toyota”s managing director for advanced autos, said that the first hydrogen model from the automaker will be a sedan with equal driving range to that of a gasoline-powered vehicle.
“Our target is, we don”t lose money with introduction of the vehicle,” Masuda said. “Production cost should be covered within the price of the vehicle.”
Toyota, General Motors, Honda, Daimler and Hyundai have all said that they plan on bringing fuel-cell vehicles to customers by 2014.
Toyota said that it plans to sell the hydrogen sedan in the U.S. and other markets, but did not provide any details.
– By: Omar Rana
Source: Automotive News (Subscription Required)