Toyota says that the recent advancement in fuel-cell technology has enabled it to cut the price of building fuel-cell vehicles by 90 percent, which can allow the company to sell its first hydrogen vehicle for $50,000 by 2015.
It hopes to cut that by another 50 percent in coming years, so it can sell an “affordable” mid-sized hydrogen-fuel-cell vehicle. Such a car would offer the same range as a conventional auto "with some extra cost," says Yoshihiko Masuda, Toyota’s managing director of advanced vehicles.
"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 has slashed the cost of fuel cells by reducing the amount of platinum by up to 67 percent. It has also reduced the cost of the polymer-electrolyte membrane used in the cell.
The eco vehicle will come with a higher price tag, compared to a traditional car.
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