Are Toyota’s new hydrogen car financial benefits from confidence or panic?

Are Toyota’s new hydrogen car financial benefits from confidence or panic?

March 6, 2024 0 By Bret Williams

The automaker will be offering interested US early adopted a range of substantial financial benefits.

Toyota Motor Corporation recently announced some news that should be very appealing to people in the United States who have been considering giving a hydrogen car a try.

The automaker is promoting notable financial benefits to buyers of the H2 vehicles

Toyota is offering a financial benefit for its Mirai hydrogen car model. US drivers can save up to $40,000 off a 2023 Mirai, which currently retails for about $52,000.  When combined with the current offer for as much as $15,000 in free H2 across six years after purchase, and the 0% interest loan currently available, drivers are actually making $3,000 from Toyota to buy and drive the Mirai.

The financial benefits of a Toyota Mirai hydrogen car

Different financial incentives are available to various customers in the US who are interested in buying a Mirai, which can make the vehicle far more affordable up front. Among these incentives include:

  • Special offers from the automaker – Toyota will offer manufacturer incentives now and again, such as special financing options or lower lease rates, in order to encourage the purchase of a Mirai.
  • Federal tax credits – The US government is now offering a credit as high as $7,500 to consumers buying a new hydrogen car such as the Mirai.
  • State and local incentives – Several US states and a number of municipalities within them are offering drivers rebates, tax credits and other incentives for choosing low- or zero-carbon vehicles, shrinking the price tag overall.

Hydrogen car - Limited H2 refueling

Will drivers be interested with limited refueling options?

Currently, there are very few H2 refueling stations in the United States, the vast majority of which are located in California. Moreover, most of the locations within the state are focusedon the Los Angeles and San Francisco areas. That said, at the end of last month, Shell announced that it was immediately shutting down all of its H2 locations in the state, instantly removing 10 percent of public refueling stations.

Is the hydrogen car price enough?

hydrogen news ebookOf course, as about one quarter of the refueling locations was unavailable at any given time, recently, the loss is unlikely to be felt too profoundly. Still, with so few options to refuel, it might make drivers think twice about purchasing a hydrogen car – even an inexpensive one – and insuring it, if they don’t know how they will be able to reliably use it.

Ready to test your knowledge on the most abundant element in the universe? Take our fun and engaging Hydrogen Quiz now!

Spread the love