Toyota expects to steal the limelight at this year's Los Angeles Auto Show on Nov. 21 to 30 by introducing "the future."

That is, the Mirai, the Japanese automaker's first fuel-cell vehicle powered by hydrogen. The car emits water, not carbon dioxide. This makes the Mirai, which literally means "future," qualify for zero-emission classification in eight states that have regulations for such a vehicle.

In a YouTube video signaling the arrival of the Mirai, Toyota CEO Akio Toyoda says the new hydrogen-powered sedan, which is set to become available in Japan later this year and in Europe early next year, is "a turning point in automotive history" that will allow humanity to depend less on oil for fuel consumption and reduce environmental damage.

"Imagine a world filled with vehicles that diminish our dependence on oil and reduce harm to the environment," Toyoda says. "A bold but inspiring goal, and today it is a reality."

The Mirai runs fully on hydrogen, which Toyoda says can be made from virtually anything, even garbage. Under the hood, the car has its own stack of fuel cells, which convert compressed hydrogen stored in the Kevlar-reinforced tanks into the electricity that is transferred to the batteries and needed to power the car. A single full tank can power the Mirai for up to 300 miles, similar to the distance a Tesla Model S can go on a single charge. But, unlike the Tesla Model S' charging time of 20 minutes, drivers can refuel the Mirai in five minutes.

Toyoda also says, unlike many alternative fuel vehicles available, the Mirai will be "a pleasure to drive." He has test-driven the car himself and says its low center of gravity gives it better driving dynamics than most other electric or fuel-cell cars.

"This is a car that lets you have it all with no compromises," he says.

Toyota's announcement comes just hours before Honda held its own press conference on developments of its new hydrogen-powered car, whose release is now delayed to March 2016 due to the car's evolving concept. Toyota isn't actually the first car company to release a hydrogen fuel-cell vehicle; Honda has been selling its Honda FCX in limited markets since 2005.

Unlike Honda, Toyota plans to make the Mirai part of its core lineup of vehicles, not as a limited release made only for pre-selected buyers. Moreover, a release from Toyota could help introduce hydrogen-powered cars into the mainstream, just as the Prius made a dent in the hybrid electric and gas vehicles industry when Toyota began selling it in 1997.

However, the release of a vehicle that relies on new technology is not without its constraints. Toyota's biggest problem right now is the dearth of hydrogen fueling stations on most American highways, which is why the automaker has partnered with hydrogen gas producer Air Liquide to develop refueling infrastructure along the roads of New York, New Jersey, Massachusetts, Connecticut and Rhode Island by 2016 so Mirai drivers can coast what Toyota calls a "hydrogen highway" without having to worry about running out of power.

On the East Coast, Toyota has also invested $7.3 million to support FirstElement Fuels, a company that operates and maintains 19 hydrogen fueling stations in California.

The Mirai will cost $69,000 when it starts selling in Japan. Pricing for the U.S. market has yet to be announced, but reports say Toyota is aiming for $50,000.

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