JAPAN- The production cost of a fuel-cell vehicle Toyota Motor Corp. aims to release in 2015 will be about 5 million yen, and the sales price will be at the same level, company sources said.

In the early 2000s the production cost was estimated at more than 100 million yen per unit. But technological advances have enabled the automaker to drastically cut the cost and envision selling the fuel-cell vehicle at a price similar to that of a luxury car, the sources said.

Fuel-cell vehicles are considered the "ultimate eco-cars" as they do not emit any carbon dioxide. However, the exorbitant cost of producing such vehicles has hampered their dissemination. Toyota cut costs by reducing the number of parts made of platinum and other precious metals, as well as the amount of precious metals needed to generate electricity through hydrogen-oxygen reactions.

Toyota rivals, including Honda Motor Co., General Motors Co. and Germany's Daimler Chrysler AG, are also developing fuel-cell vehicles.

Observers believe if Toyota can market its fuel-cell car for about 5 million yen, it will promote the dissemination of fuel-cell cars and influence its rivals' strategies.

-The Yomiuri Shimbun/Asia News Network