Electric cars are getting a ton of buzz right now, I think people are more environmentally conscious now than any other time and that’s all good. Hybrid and electric cars are on the menu for virtually every manufacturer including GM, Ford, Renault, BMW and VW. And Toyota of course has the Prius. But what’s really interesting is Toyota’s direction for the future; they are developing a hydrogen powered car.
Hydrogen has some real appeal. It burns virtually emission-free and it is available in North America in such abundance that it costs next to nothing (33 cents a gallon for example). Could Toyota be looking at this possible scenario in the next couple of years, a market with several different hybrid and electric cars for sale along with a strong green demand? But, the electric cars come with a big price (estimates say an electric car will carry a $15,000 premium). For example, the Chevy Volt is expected to have a price tag of $40,000 and its competition (similar gas-powered cars) will be priced at $25,000.
Now if at the same time Toyota steps in with hydrogen powered car in the $25,000 price range my question is who would want to buy a Volt? Toyota’s car will be just as green if not more so than the Volt, cost about $5.00 to fill up and have a price tag $15,000 less. So is this another situation when everyone will look back and say Toyota out-smarted everyone?