Toyota’s hydrogen car will have a $50,000 price tag

Toyota Electric Concept 5510Toyota Motor Corp., the largest seller of hybrid cars, has announced plans to set a $50,000 sale price on their new hybrid cars.

This comes after the car manufacturer cut their costs for making these vehicles by 90% since 2005 – if they hadn’t, the sale price would most likely have been twenty times this figure.

This $50,000 sale price will undoubtedly have an impact on the car leasing price, once the vehicle is released in years to come.

The car manufacturer cut their production costs to approximately one-tenth of earlier estimates, which were as high as $1 million a car and there are now to be further cutbacks because the car needs to be a viable option for regular U.K. drivers.

Yoshihiko Masuda, Toyota’s managing director for advanced autos, said that the first hydrogen model will be a sedan and it will have the driving capabilities of a regular gasoline-powered car. He added that for this type of performance there may be additional costs.

These plans are a significant step forward for the hydrogen car, as the new Toyota car may become one of the first profitable fuel-cell cars. As a result it may lead to electric vehicles gaining more support and backing than they have done in the past.

In fact this already seems to be the case, with more and more car munufacturers becoming interested in fuel-cell technology for their vehicles. As well as Toyota; General Motors, Honda, Daimler and Hyundai have all said they will be selling these hydrogen fuel-cell vehicles by 2015, and no doubt the cars will be available to lease around the same time.

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