Part 2: Toyota’s Hydrogen-Powered Car is Already for Sale

Jun 12, 2023 | Finconomics 101, No Bull Economics

Toyota Mirai Post Banner

Let’s follow Toyota’s lead & redirect our efforts to pursue hydrogen cell vehicles that do not require fossil fuels like both combustion engines & EVs.

Commentary

  • According to Toyota, its Mirai (which is translated future in Japanese) can run exclusively on hydrogen sourced from a single cow’s poop for a year! This is a car that burns zero fossil fuels & produces zero pollution or greenhouse gases.
  • Hydrogen is quickly pumped into a vehicle’s fuel tank just like gas & once it has a full tank, a fuel-celled Mirai can travel just as far as a gas vehicle (generally far exceeding an EV’s range).
  • As outlined in a 10/22 Car & Driver long-term test drive review of the Mirai, hydrogen pump prices were generally stable during the testing period (costing anywhere from $13.14 to $18.69 per kg) with 5.5 kgs needed to fill the tank.
  • While the Mirai’s $0.217 hydrogen fuel cost/mile was +35% higher than a Hyundai Sonata’s $0.16 cost (with gas at $3.89 per gallon), Toyota fully subsidizes things with a $15k prepaid fuel card to incent early adopters.
  • There is good reason to expect the cost of hydrogen will decline as the fuel-cell infrastructure (which only exists in a limited fashion in California) begins to build scale.
  • Notably, hydrogen could prove very central to Toyota’s plans to stop producing internal combustion engines by 2040 while cutting its carbon emissions -90% by 2050.
Toyota Mirai Car Image

Source: Hydrogen Cars — How Hydrogen Fuel Cell Cars Work (popularmechanics.com)

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