Japan’s green car subsidies could exceed $30,000 a vehicle for Toyota Motor Corp.’s first hydrogen fuel-powered sedan.
If the consumer rebates from Japan’s national and local governments are extended, the country would exceed the level of incentives China offers for buyers of electric vehicles, reported Bloomberg. The program would bring down the cost of Toyota’s hydrogen-powered fuel cell car to about $50,000 in Japan, reported Reuters.
Earlier this month, Prime Minister Shinzo Abe said the government would build more than 100 stations for fuel-cell cars. The comments followed a government plan revealed in June to help bolster the fuel-cell car industry.
Toyota, which has said it wants to sell an "affordable" hydrogen fuel-cell vehicle by 2015, has further committed to launching a zero-emission fuel-cell sedan and will likely begin selling the cars in the US next year. The automaker, which has put more than 5 million hybrid vehicles on the road worldwide since 1997, will showcase the fuel-cell car at the Tokyo Motor Show in November.
Toyota’s hydrogen-powered sedan could be available in US dealerships in 2014 at a price comparable to a mid-size BMW or Tesla Model S.