Toyota Motor has unveiled plans to slash the cost of hydrogen-powered fuel-cell cars to $50,000 by 2015.

It is the first time the Tokyo-based car maker has revealed its launch plans for hydrogen cars, currently valued at around $1 million, which it believes will provide a clean long-term replacement for gasoline and diesel-powered vehicles.

Toyota board member Kazuo Okamoto, who becomes the company's head of research and development next month, told the Financial Times that the company was "developing everything to reach this (2015) target".

The new target date counters less ambitious forecasts from Toyota bosses in North America.

Mr Okamoto claimed that the speed of adoption of fuel cells would depend on access to hydrogen filling stations around the world.

"It depends how quickly the government can put in place the infrastructure for buying hydrogen," he explained.

Reports suggest that Toyota may be planning to release high-priced, low-volume hydrogen cars earlier than 2015, but Mr Okamoto told the FT that hitting the target would be difficult and would require government financial support for buyers.

Toyota and GM are in talks about setting up a joint factory to build fuel cells.