Toyota Shoots For $50k Price Tag On Hydrogen Car

Good news for those hankering after a fuel-cell vehicle: Toyota has announced they’ve cut the cost of making hydrogen-powered cars by around 90 percent and could start selling the first retail model for close to $50,000 by 2015.

Toyota, which is currently the biggest seller of hybrid cars, will introduce their first model, a sedan that can go as far as any gasoline-powered car, “with some extra cost,” Yoshihiko Masuda, the company’s managing director for advanced autos, tells Bloomberg.

Right now, the cost of manufacturing such automobile delights makes it too costly to sell. That’ll change, hopefully, says Toyota.

“Our target is, we don’t lose money with introduction of the vehicle,” Masuda said in Torrance, California, where Toyota’s U.S. sales unit is based. “Production cost should be covered within the price of the vehicle.”

Hydrogen cars have yet to compete with electric cars in the U.S., mostly do to their higher cost. Toyota’s plan is to sell an “affordable” model. A $50,000 price tag would still be exorbitant for many, but could have advantages over electric cars.

I’m still waiting on the announcement for flying cars. It’s 2010 already, where are they?

Toyota Targets $50,000 Price for First Hydrogen Car [Bloomberg]