Toyota has announced that it plans to offer a hydrogen-powered sedan by 2015, which it aims to price at $50,000. Toyota says that they will be able to at least cover the cost of building the car at that price.
Bloomberg recently interviewed Yoshihiko Masuda, Toyota’s managing director for advanced autos, who said the automaker has a hydrogen-powered sedan in the works that will come to market around 2015, with a driving range similar to a gas-powered car, but with a price of $50,000.
Toyota says that it has managed to cut the production costs for hydrogen vehicles to a level that is approximately 1/10th the levels in the mid-2000s. Toyota believes that if they can bring a hydrogen-powered car to market that is capable of selling at a profit, it may help to boost support for the technology industry-wide.
Toyota realizes that the $50,000 price is still high, but they believe they will still receive some support in the marketplace. Toyota and some analysts also believe that in the long term, hydrogen-powered cars can become more cost effective than the currently more affordable battery powered vehicles.
“On a cost basis per car, range and performance, fuel-cell vehicles can have an advantage over battery vehicles,” Jay Whitacre, a professor of materials science and engineering at Carnegie Mellon University in Pittsburgh told Bloomberg. “On a system basis, infrastructure, battery cars win.”
How the cost cutting was achieved
Toyota points to the reduction in platinum usage as the major reason for the reduction in production costs. Toyota says they now use approximately 1/3rd the platinum previously expected, along with less expensive methods of producing the thin layers of platinum used in the carbon-fiber fuel cells that house the hydrogen.
Toyota is joined by General Motors, Hyundai, Daimler and Honda in suggesting that they will have a hydrogen-powered car ready for the market by 2015.
References
1. ‘Toyota targets $50,000 price…’ view
