Toyota Mirai Fuel Cell Electric Vehicle to go on sale this year in Canada starting in Québec
Volkswagen founds mobility services company in Rwanda; to begin local assembly of Polo and Passat

Report: Toyota to cut costs of fuel cell cars’ core technologies by >50% for new model in 2020; cut by 75% by 2025

The Nikkei reports that Toyota Motor plans to slash the cost of the key components of fuel cell cars by more than half for a new model slated to launch in 2020 or later.

While production for of the Mirai, Toyota’s first mass-produced fuel cell model has grown steadily since its introduction in 2014, the car remains pricey at about $63,0000 and has sold only a little more than 5,000 units.

According to the Nikkei report, Toyota plans to reduce the cost of the fuel cell system and other components further after the next-generation model is launched, cutting those costs by three-quarters around 2025.

Toyota targets annual fuel cell vehicle sales of more than 30,000 vehicles globally, including more than 10,000 in Japan.

Toyota is targeting selling more than 5.5 million electrified vehicles in 2030, with at least 1 million coming from zero-emission electric and fuel cell models.

Toyota will market battery-electric vehicles toward short-distance drivers; hybrids, plug-ins and fuel cell cars will be promoted for long-distance use.

Comments

Davemart

I'd just note that AFAIK the 30,000 target is for 2020, so long as nothing has changed from previous press releases.

HarveyD

This is excellent news for near future Toyota FCEV buyers.

Reducing total cost by 75% could bring the next generation all weather extended range Mirai as low as $15,750.

Very few short range slow charge BEVs could compete and probably none of the all weather ultra quick BEVs?

gryf

@HarveyD,
Toyota said it would reduce Fuel Cell System cost by 75% by 2025, not Total Mirai auto cost.
The Toyota Mirai which is nothing more than a Camry should cost $23,000. Toyota claims that the FCEV will eventually cost the same as a Hybrid, e.g. Prius or Prius Prime, or $27,000 which would be very good for a FCEV.
One way to cut the Fuel Cell System cost by 50% by 2020 would be to reduce the Fuel Cell to 57 kW (half the Mirai size) and use the Prius Prime 8.8 kWH battery.
Not sure if this brings the Mirai cost down to $27,000 since the current Fuel Cell costs are significantly more expensive than the 1.8L Prius ICE. Probably would bring price down to low $40K range.

electric-car-insider.com

Harv, the article doesn’t say reduce total costs by 75%, it says Toyota is targeting a cost reduction of key components. Right there on the first paragraph (“core technologies” in the headline).

It FCVs ever reach cost parity with BEVs and PHEVs, it will be an impressive achievement. But to be competitive, the fueling infrastructure will also need dramatic improvements in cost reduction.

HarveyD

Next generation, more efficient, much lower cost FCEVs will probably be built in China by 2020/2022?

Built in China FCEVs may cost 50% less than current Toyota Mirai.

Will they be imported and sold in USA/Canada together with transportable H2 stations, to produce clean H2 at about $2/Kg with surplus/excess REs, is another question?

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