Toyota first fuel cell vehicle, due out in 2015, will cost less than $100,000.

Toyota's upcoming fuel cell vehicle will retail for less than $100,000, the Japanese automaker revealed this week. Toyota is planning to begin retail sales of its first fuel cell vehicle in 2015.

Although expensive compared to other green technologies currently on the market, the cost to build a fuel cell vehicle is actually drastically cheaper than it was just a few years ago. Toyota's initial fuel cell prototypes carried a price tag of $1 million each.

Chris Hostetter, group vice president of strategic planning for Toyota Motor Sales U.S.A., told Automotive News that the company's 2015 fuel cell vehicle will cost about $50,000 to build. Hostetter declined to reveal the car's intended retail price, but said its MSRP would not cross the six-figure mark.

Toyota's first production hydrogen fuel cell vehicle will be based on the FCV-R concept. Unlike Toyota current test fleet of Highlander fuel cell vehicles, the FCV-R concept is a four-door sedan with a shape similar to that of the Toyota Prius.

Toyota will show an updated version of the FCV-R at this year's Tokyo Motor Show.

Toyota was aiming for a nationwide rollout of the production FCV-R, but a lack of hydrogen infrastructure will likely limited the car to California and New York. Despite those market limitations, Toyota expects to sell about 2,000 units of the fuel cell vehicle during its first year on the market.