Akio Toyoda, President and CEO of Toyota Motor Corporation, has announced that their fuel cell vehicle will be named Mirai which means future in Japanese.

Toyoda says Mirai represents a turning point for the automotive industry and offers the “promise of a world that is safer, greener and easier for everyone.”

The Mirai can travel up to 483 km on a single tank of hydrogen and it can be refuelled under five minutes. In adhering to Toyota's advocacy for a building a better future, the Mirai was designed to emit water vapor. With this, Toyoda added that the Mirai would “diminish our dependence on oil and reduce harm to the environment.”

The rear of the Toyota Mirai

As previously reported, the Mirai will be launched in Japan by April 2015 and it is priced at approximately 7 million yen (around PHP 3.017 million).

Check out the video posted below to watch Akio Toyoda's speech.