Toyota Invests $168 Million Dollars In Mirai Fuel Cell Vehicles

Tesla Motors has dominated the green vehicle headlines in recent months. From their outspoken founder Elon Musk to their high performance sedans, they have stolen and maintained the spotlight. However, are they the future of alternative energy vehicles? Toyota, it seems, is planning on showing up with a different offering and stealing some of the show.

Toyota has recently invested $168 million dollars into their Mirai fuel cell vehicles. The vehicle is an electric hybrid. It’s a hybrid of two types of electric power. It generates power via the hydrogen fuel cell and through a large battery. Robert Carter, Head of Operations at Toyota USA, thinks that the Mirai could impact the auto industry like the Prius did in 2004. Carter said, “We look back now and say the Prius changed the industry. I think we’re going to be looking back and saying Mirai changed it all.” Changing it all won’t happen instantly. Tesla Motors, for example wants to revolutionize the auto industry and it didn’t happen with their first sedan, which costs nearly $100,000. Great impact is easier to come by if more people are able to buy your car. In terms of time for change, Carter agrees. “I really think there’s an opportunity where (fuel cell) is going to be the dominant technology 20 to 30 years out,” Carter told the Detroit News. “It’s not going to be a 24-month overnight success story. It’s going to be steady growth.”

That goal of a steady revolution has to begin somewhere. The 2016 Toyota Mirai will initially only be sold in California, beginning in late 2015. The vehicle will cost $57,500, or leased for $499 per month with a limit of 200 to be sold in 2015. With government tax rebates, the cost could be reduced by as much as $10,000. However, Toyota isn’t alone in their creation of a Fuel Cell vehicle, Hyundai introduced a Tucson powered by a similar hydrogen/battery power plant. The 2015 version of the vehicle is available only to be leased at $499 per month in southern California until there are more hydrogen fueling stations.

Is the future of automotive going to be Gas, Electric, Hybrid or Fuel Cell powered vehicles? If you don’t think that fuel cell cars are the future, are they even going to make an impact on the industry?