Toyota Car May Be First Mass-Market Hydrogen-Powered Vehicle

by William White | June 27, 2013 3:06 pm

Toyota Motor (TM[1]) might be setting a new trend in the auto industry later this year when it unveils a hydrogen powered car that could be part of its 2015 lineup.

Hydrogen powered cars are great on paper; hydrogen gas is plentiful and when used as fuel only, produces water vapor. However, automakers have looked at using hydrogen fuel cells in the past, but with prototypes costing over $1 million[2] to produce, it was deemed too expensive.

“Fuel cells should be renamed ‘fool cells,’ they are so stupid,”Elon Musk, Tesla (TSLA[3]) Chief Executive Officer, told Bloomberg. “You could take best case of a fuel cell, theoretically the best case, and it does not compete with lithium-ion cells today.”

If Toyota does release a hydrogen powered car, its target market will be homes with an income over $175,000[4].

TM shares were up 3% as of writing Thursday, continuing a 30% year-to-date run.

Endnotes:
  1. TM: http://studio-5.financialcontent.com/investplace/quote?Symbol=TM
  2. $1 million: http://www.bloomberg.com/news/2013-06-26/toyota-seeks-prius-like-success-with-2015-fuel-cell-model.html
  3. TSLA: http://studio-5.financialcontent.com/investplace/quote?Symbol=TSLA
  4. $175,000: http://www.latimes.com/business/autos/la-fi-hy-toyota-hydrogen-aspen-20130625,0,270325.story

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