Honda's Hydrogen CR-V Lease Pricing Comes With Generous Fuel Credits

2025 Honda CR-V e:FCEV

The base lease option includes $15,000 in hydrogen fuel credits and the longest lease gets $30,000.

Honda announced lease options for the all-new 2025 Honda CR-V e FCEV, a hydrogen fuel cell model with a plug-in capability that is entering the U.S. market.

The model will be available solely in California starting from July 9, 2024, and for lease only, as the manufacturer has no intention of selling the vehicles. It will be offered through a network of 12 approved Honda dealerships, including six dealerships in Southern California, five in the San Francisco Bay Area, and one in the Sacramento area.

According to Honda, there will be three lease options based on the Manufacturer's Suggested Retail Price (MSRP) of $50,000.

The first one, which is expected to be chosen by the majority of customers, is a 3-year/36,000-mile lease for $459 per month with $2,959 due at signing. That's $19,483 total over the period, but to attract customers, Honda adds also $15,000 of hydrogen refueling credits during the lease term.

If a customer agrees to lease a 2025 Honda CR-V eFCEV for six years and 72,000 miles, the monthly payment will be $389 plus $2,889 due at signing, while the hydrogen refueling credit doubles to $30,000. The cost of leasing is $30,897.

There is also a two-year lease option with 60,000 allowable miles for $489 per month and $2,989 due at signing, totaling $14,725. The hydrogen refueling credit is $25,000.

2025 Honda CR-V e:FCEV Lease Options

The lease terms are interesting because it seems that customers will be driving on hydrogen mainly using the credits. However, a lot depends on how often they will recharge the vehicle at home, using the plug-in capability and paying from their own pocket.

The 2025 Honda CR-V eFCEV has an expected range of 270 miles, including 29 miles (EPA) in all-electric mode when fully charged (17.7-kilowatt-hour battery). The hydrogen tanks store some 4.3 kilograms of hydrogen.

Assuming that one kilogram of hydrogen costs about $36, as we found out by checking the Toyota Mirai, a full tank would cost roughly $155. On top of that, one would have to add electricity for charging.

If we additionally assume 241 miles of range on hydrogen (the total of 270 miles minus 29 miles in all-electric mode), the cost per mile would be $0.64/mile. The hydrogen fuel credit would last for about two-thirds (65%) of the allowable mileage at such a cost.

The recharging capability is believed to be very handy for users. First, there are not too many hydrogen refueling stations (only some 55 are open for retail customers). Second, a fully charged battery in the morning is always an additional range for use during the day.

Other than that, the Honda CR-V eFCEV is promised to be very well equipped, including: "a 10.2-inch digital instrumentation display, 9-inch touchscreen, wireless Apple CarPlay and Android Auto compatibility, wireless phone charging, a 12-speaker Bose premium audio system, power-adjustable heated front seats, heated steering wheel, dual-zone climate control, handsfree access power tailgate, parking sensors and sustainable materials including bio-based leather seat upholstery."

It will be very interesting to see the 2025 Honda CR-V eFCEV use case and results. Honda clearly uses the model as another test fleet for hydrogen technology. According to previous reports, only "north of 300 units" will be produced annually at Honda's Performance Manufacturing Center in Marysville, Ohio.

The hydrogen fuel cell stack is also locally produced in Michigan because it was co-developed with General Motors. The company says that the cost of the second-generation Honda Fuel Cell Module was reduced by two-thirds, compared to the cost of the fuel cell system in the Honda Clarity Fuel Cell.

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