Toyota's new fuel-cell powered car will reportedly cost around the same amount the Tesla Model S is currently available for according to Bloomberg Businessweek.
That's not the only thing the two cars will have in common however, as Toyota's new car will also deliver around 300 miles on a full tank of hydrogen.
Hydrogen fuel cells can power a car by generating electricity and emitting only water vapor.
"We're now in the 'trough of disillusionment' for fuel-cell vehicles," said John German, program director with the International Council on Clean Transportation environmental policy group. "This is a genuinely better vehicle over the long term than gasoline-burning or battery-only autos."
The FCV-R-based vehicle will be unveiled at the Tokyo Motor Show this November according to Toyota.
The vehicle's official name is currently still being kept a secret but it will either be released under Toyota's own brand or as a Lexus according to Bloomberg.
Battery-electric vehicles like the Model S share a number of different technologies with fuel-cell cars. They use similar electric motors to power brakes and electric motors "that capture power when stopping," while also using similar software and electronics according to Bloomberg.
Battery vehicles store electricity in lithium-ion packs and usually way around 1,000 pounds. Fuel cells meanwhile generate it in an electro-chemical reaction of air and hydrogen.
The vehicle will cost $1 million to make and will be sold for a base price of at least $50,000, or "depending on how big your neighborhood is," according to Chris Hostetter, U.S. group vice president for advanced product development, told reporters last month.
Tesla sells its Model S for $69,900 before federal taxes and was originally sold for $52,400.
Expect the new Toyota model at dealerships sometime next year.
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