Aug 9, 2007

Honda FCX becomes first hydrogen fuel cell acknowledged for US$12,000 federal tax credit

Honda FCX
Honda FCX. Click image to enlarge

Torrance, California – The U.S. Internal Revenue Service (IRS) has announced that the hydrogen-powered Honda FCX fuel cell vehicle has become eligible for the Qualified Fuel Cell Motor Vehicle Credit program and a tax credit of US$12,000 for 2005 and 2006 vehicles. The credit is part of the federal Energy Policy Act of 2005, which seeks to promote affordable, dependable and environmentally-sound production and distribution of energy.

“This tax credit helps offset the higher costs associated with the early development of advanced technology vehicles that reduce CO2 emissions and dependence on oil,” says Stephen Ellis, Fuel Cell Vehicle Marketing Manager at American Honda. “It is a further validation that the FCX is a real vehicle and another step towards market viability.”

The FCX has been in public use since 2002, and is powered by Honda’s originally developed fuel cell stack, improved to increase performance, range and fuel efficiency compared with earlier models, as well as a breakthrough capability to start and operate in freezing temperatures as low as minus 20C. In 2005, Honda was the first to lease a fuel cell vehicle to an individual customer, with a second customer added in 2007. More than 15 vehicles are on the road in the hands of customers, including in Los Angeles, San Francisco, Las Vegas and the state of New York. The FCX is the only fuel cell vehicle certified by the California Air Resources Board and the EPA.

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