The world’s largest manufacturer, Toyota Motor Corp., has announced that it’s likely to retails its first hydrogen vehicle at around $56,000 ($50,000 USD) by 2015. The Japanese company has managed to cut the cost of making fuel-cell vehicles by around 90 percent since work on the project began in mid-2000s.
According to an interview with Yoshihiko Masuda, Toyota’s managing director for advanced autos, the first hydrogen model will be a sedan, capable of equal range to its petrol powered variants, “with some extra cost”.
“Our target is, we don’t lose money with introduction of the vehicle, production cost should be covered within the price of the vehicle.” Masuda told Autonews.
Although being the biggest seller of hybrid vehicles, hydrogen cars in general are yet to find a foothold in the market. Analysts predict hydrogen cars may become a viable option of they don’t sell at a loss. They will nonetheless face some tough competition from electric cars.
A number of leading manufacturers such as General Motors, Honda, Mercedes-Benz, Hyundai and of course Toyota are all in the late stages of producing hydrogen vehicles that should hit showrooms by 2015.