Toyota hydrogen car to debut at next month’s Tokyo Motor Show

Toyota Motor Corp. has longly awaited hydrogen car – an alternative to gasoline for powering autos – will soon appeal to consumers with its fuel cell-powered engine.

In order to demonstrate the advancement in hydrogen fuel cell technology, Toyota did test drives of a small, prototype sedan in Japan this week. A similar type of vehicle although having a different design will debut at next month’s Tokyo Motor Show. The car demonstrated great acceleration and comfortable handling. It is supposed to arrive in the U.S., Japan and Europe as early as next year as a 2015 model.

“Earlier would have been better, but it’s taken a long time to get to this point,” said Satoshi Ogiso, the Toyota engineer managing its fuel cell development and electric-drive vehicle programs, in an interview in Tokyo yesterday. “We’ve already started work on the next-generation vehicle. We can’t wait.”

One of the main critics of the hydrogen technology was Tesla Motors Inc. Chief Executive Officer Elon Musk, who described it as too complex, too costly and not enough environment friendly, as most hydrogen is generated from natural gas.

Toyota argues the new technology would revolutionize transportation as it delivers similar to petroleum performance with zero emissions while avoiding the size, range and refueling-time issues of battery-electric models.

The Japanese giant car manufacturer, calculates deliveries of hydrogen-fueled cars should reach tens of thousands annually by 2020, according to Toyota Motor Corporation managing officer Satoshi Ogiso. By that point, the cost of the system should fall by at least half, according to the company.

Toyota’s 2015 model fuel cell car will have more than 500 kilometers (311 miles) of range per fueling, according to the company, a level matched only by Tesla’s $70,000 Model S among alternative-powered vehicles. Pricing hasn’t been announced, although U.S. Toyota executives have previously said it may cost about $50,000.

Ford Motor, Daimler, Nissan Motor Co. and Renault SA are in a fuel cell development alliance. Toyota and Bayerische Motoren Werke AG are also collaborating on the technology to improve the odds of hydrogen influencing the market.

The current consensus among 22 polled by CNN Money investment analysts is to buy stock in Toyota Motor Corp. This rating has held steady since October, when it was unchanged from a “buy” rating.