Post by thedirtman on Jun 29, 2014 20:52:01 GMT -5
Why Tesla Motors Is Laughing at Toyota's $70,000 Hydrogen Car
Toyota (NYSE: TM ) said this week that its new FCV Sedan will be priced at about seven million yen when it goes on sale in Japan next spring.
The FCV Sedan is a "fuel cell vehicle". It's an electric car, but unlike the popular Model S from Tesla Motors (NASDAQ: TSLA ) , it doesn't have batteries. Instead, it's powered by a fuel cell, a device that chemically extracts energy from hydrogen gas and turns it into electricity.
As Motley Fool senior auto analyst John Rosevear points out in this video, the FCV Sedan represents an interesting bet for Toyota. Toyota may be the world leader in hybrids, but it's moving away from battery-electric cars and toward fuel cells instead -- even as Tesla CEO Elon Musk mocks fuel cells as a dead-end idea. Who's right?