$19,000 is temporary. A $9,000 price reduction is permanent.
Toyota doesn’t think fuel cell vehicles are dead yet. The Mirai, which is new for 2021 has a more appealing shape and sits on a chassis that was derived from the Lexus LX. Although such changes normally result in a higher price tag for new models, the Mirai is more affordable than any other model. Toyota also offers a significant discount for a limited time. There are some caveats.
The Mirai is still only available in California, which hosts nearly all the US public hydrogen refueling stations. Golden State residents can purchase a new Mirai at $9,050, which is $9,050 cheaper than last year. The price starts at $49,000. However, Autos Direct reports that Toyota offers a $10,000 APR credit. This brings the total savings on a 2021 model down to $19,050. This means that you can buy a 2021 Mirai or a Corolla almost at the same price as last years Mirai.
One catch is that only California buyers can obtain one. The discount is not available if the car is financed through Toyota at a promotional rate. Although the rate is not stated in the report, zero-percent financing for 60 month is an option. Although we assume that buyers won’t be able to have them all together, the terms of the $10,000 credit are not specified in the report. It does mention that the deal is not available for leasing but only for purchasing a Mirai. The promo is only available through January and ends February 1.
The Mirai is one of the few hydrogen fuel-cell vehicles that aren’t mainstreamed as electric cars. The Mirai has a range of 402 mile on a full tank of fuel. It can be refilled at a hydrogen station in just five minutes. The Mirai offers motorists both emissions-free and electric power, without the lengthy recharge times that plague battery-electric vehicles. The future of fuel-cell vehicles is not looking promising, as there’s no national hydrogen refueling infrastructure.