World's First Sale-Lease Agreement of Fuel Cell Vehicles

On the occasion of the world's first market delivery of fuel cell-powered vehicles, a ceremony was held at the Japanese Prime Minister's Official Residence on December 2, 2002. Fuel cell vehicles are powered by electricity generated from a chemical reaction between hydrogen and oxygen, achieving higher fuel efficiency along with a high reduction in carbon dioxide emissions compared to gasoline fueled vehicles, and they also have superior noise performance.

After a test ride of the first commercially released fuel cell cars delivered to the Cabinet Secretariat, one manufactured by Toyota Motor Corp. and the other by Honda Motor Co., Ltd., Prime Minister Koizumi made this comment: "I thought the introduction of fuel cell vehicles would take a lot longer, but these have come to market in Japan earlier than anywhere in the world, a lot earlier than I expected. I hope that with continued technological development, Japan will be said to have succeeded in both harmonious coexistence with nature and economic development."

A total of five fuel cell-powered vehicles were delivered, four manufactured by Toyota and one by Honda. Toyota's vehicles are leased on 30-month contracts with the lease price of 1.2 million yen (about U.S.$9,800 dollars) per month for each vehicle, and Honda's lease term is 12 months with a monthly payment of 800,000 yen (about U.S.$6,500 dollars).

On the same day, in the United States, Honda delivered a fuel cell car to the City of Los Angeles, and Toyota delivered two fuel cell cars, one to the University of California, Irvine, and the other to the University of California, Davis.

Stimulated by Prime Minister Koizumi's initiative to replace all general official vehicles with low-emission vehicles in the next three years, the government and public sector are taking the lead to introduce low-emission vehicles.


http://www.kantei.go.jp/foreign/koizumiphoto/2002/12/02nenryo_e.html
http://world.honda.com/news/2002/4021203.html

Posted: 2003/01/08 05:17:13 AM
Japanese version