VIDEO: Toyota Introduces "Mirai" Fuel Cell Sedan

Toyota confirmed the rumored name of its hyrdogen fuel cell (FCV) sedan Mirai. The FCV can travel up to 300 miles on a single tank of hydrogen, refuel in less than five minutes and emits only water vapor.

The Japanese automaker made the announcement a day prior to the official launch in Tokyo on Nov. 18. The four-door sedan has a starting price of $60,400.

Unlike Hyundai’s Tucson Fuel Cell compact SUV, Toyota will not be offering its FCV as a leased vehicle.

Mirai means "future" in Japanese. Also in Toyota's future are plans to assist with building hydrogen fueling stations in five Northeastern states, according to Toyota North American CEO Jim Lentz. 

In addition to the 19 public hydrogen refueling stations Toyota is helping FirstElement Fuel., build, Toyota is also collaborating with Air Liquide to develop and supply a phased network of 12 hydrogen stations targeted for New York, New Jersey, Massachusetts, Connecticut, and Rhode Island. 

Toyota’s FCV won’t be making its North American launch until late 2015 in California. Toyota Motor Sales, U.S.A. set aside more than $7.2 million in May for hydrogen fuel cell infrastructure in California. 

One of the biggest discussions surrounding fuel cell technology is whether it is affordable outside of Japan.

Shigeru Shoji, president of VW Group Japan, admitted that refueling will be impractical due to the high cost of building infrastructure needed for FCVs, according to a Bloomberg report.