Toyota this month announced a reduction in the lease price for its Mirai fuel-cell vehicle to $349 per month. The company’s goal in dropping the Mirai’s lease price by $150 a month was to encourage wide adoption of zero-emissions hydrogen-powered cars.
The Mirai’s base purchase price is unchanged for 2017, although a small bump in the destination fee brings the sticker to $58,365. Yet, the terms of a 36-month lease were significantly reduced. Those terms are $2,499 at signing—dropped from $3,649—and monthly payments of $349. There is an allowance for 12,000 miles of annual driving. The attractive lease price includes a manufacturer’s discount of $7,500.
The car comes with a broad package of other incentives, including a $5,000 rebate from the state of California. That represents the equivalent of about 14 months of lease payments. Other perks include three years’ worth of free hydrogen fuel; access to California’s carpool lanes for Mirai drivers, even if driving solo; free maintenance also for three years; and free rental of another vehicle for seven days a year for the duration of the lease. Toyota offers an eight-year, 100,000-mile warranty on the car.
The Mirai’s features are unchanged this year, except for a new color as a 2017 option. In addition to Celestial Black, Elemental Silver and Nautical Blue options, buyers have the option of Atmospheric Blue.
The U.S. Environmental Protection Agency rated the driving range of the hydrogen-powered Mirai at 312 miles on a single tank—with a gasoline-equivalent efficiency of 67 miles per gallon.
The hydrogen-powered car can be fully refueled in about five minutes.
Today, there are 21 retail hydrogen stations in operation in California—a big increase compared to just six months ago when there were only 12 stations available to fuel-cell car drivers in the state. By the end of this year, about 27 hydrogen refueling locations are expected to be open to the public—with forty-nine stations expected before the end of 2017. All new stations added to the network are now designed for retail use by drivers of passenger cars, not commercial vehicles or transit buses.
To make room for the 2017 model with the new lease deal, Toyota offered the Mirai to company’s employees at a special price. That helped boost August sales, which hit 371 units for the month, a new record. That brings the 2016 tally to about 640 vehicles through August. Toyota plans to sell 3,000 Mirai sedans globally in 2017.
IHS Automotive projects that annual hydrogen-fuel-cell vehicle sales will reach more than 70,000 a year by 2027.