According to the Asahi Shimbun, Toyota Motor Corp. plans to introduce a cheaper eco-friendly fuel-cell vehicle than its current Mirai FCV ahead of the 2020 Tokyo Olympics. The automotive giant said it will release a mass-production FCV model costing between 5.5 million yen ($50,000) and 6 million yen as early as 2019, just in time for when the eyes of the world will be on the Japanese capital as it hosts the Summer Games.
Special components of the Mirai, like the hydrogen tank and electric generator, have significantly bumped up the cost of the car, giving it a price tag of about 7.23 million yen. Domestic consumers are awarded a government subsidy of about 2 million yen if they purchase a Mirai, but they still have to pay more than 5 million yen from their own pockets.
Costing more than 1 million yen less than the Mirai, the new model should come as music to the ears of consumers who are looking for a more affordable green car. A subsidy should also help to lighten their load for those buying the new FCV, concludes the Asahi Shumbun.