Toyota Motor Corp. (NYSE:TM) All Set to Release Hydrogen Fueled Car
Toyota Motor Corp. (NYSE:TM) is aiming to take the auto market by storm. While there are new cars with enhanced technologies releasing every day, Toyota Motor Corp. (NYSE:TM) is coming out with something which would’ve been impossible to conceive a few years ago. Toyota Motor Corp. (NYSE:TM) will be releasing a Hydrogen powered car, which will have the ability to recharge in five minutes and travel 300 miles on a single charge. This venture may be way ahead of its time. Toyota Motor Corp. (NYSE:TM) will be faced with a stiff challenge considering the falling gas prices and the rising competition in the market and that too in every category; hybrid and electric.
Toyota Motor Corp. (NYSE:TM)’s management explained the mechanism. The hydrogen car, called Mirai, is almost exactly like a battery run electric vehicle. The only difference is that instead of a large charge battery, it is powered by hydrogen gas from tanks containing oxygen which produces electricity that powers the electric motor. Toyota Motor Corp. (NYSE:TM)’s usage of proprietary fuel tanks underlines the company’s dedication to producing the best power output. These fuel tanks would fit under the front driver and passenger seats. The maximum output would turn out to be 153hp. The acceleration will be so fast that the car will reach 60 in 9 seconds.
What’s great about the car is that it can even be used as a home generator if need arises. Toyota Motor Corp. (NYSE:TM) has shown that it can come up with a car which is also efficient in adaptability and versatility. Mirai will offer features that are beyond what automobile companies are offering these days. The vehicle will be offered with an additional power take off device which will enable the vehicle to be used as mobile home generator in case of emergency.
Toyota Motor Corp. (NYSE:TM) insinuated that the car will not be inexpensive. Though there is a notion that customer demand would be quite low, Toyota Motor Corp. (NYSE:TM) has figured out a way to reach out to every market, by offering thick incentives. Mirai, when it is released in 2015, will be available for $499 per month/36 month’s lease with $3,694 due at lease signing.
Toyota Motor Corp. (NYSE:TM)’s Mirai will bring a revolution in the auto industry. It is already being termed as the car that will eliminate pollution caused by the combustion of fuel. On the other hand, Toyota Motor Corp. (NYSE:TM) is playing a smartly, by offering free fuel for three years. The plan is to attract customers towards this model, who own traditional cars.
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Mirai will have chargers in only five states; this means the car will be limited to only five states. But Toyota Motor Corp. (NYSE:TM) is in talks with other states for the creation of 12 station charges for the future. Auto industry will never be the same after Toyota Motor Corp. (NYSE:TM)’s revolutionary car. Only time will tell if the new Mirai is an instant hit or a slippery miss.