GM Aims To Sell 1 Million Fuel-Cell Cars By 2020 - Kyodo
Monday October 6, 6:19 am ET
TOKYO -(Dow Jones)- General Motors Corp. (NYSE:GM - News) aims to sell 1 million units of its fuel-cell vehicles by 2020, a senior official of the U.S. carmaker said Monday, Kyodo News reported.
GM will launch full-scale commercial sales of fuel-cell cars in 2010, aiming for total sales of 1 million units in the global market in the following 10 years, GM Vice President Lawrence Burns said during an interview in Tokyo with Kyodo News.
Burns, who is in charge of GM's research and development, also said the company is currently spending about 25% of all R&D spending on fuel-cell vehicle development.
Burns said GM will discuss a plan to sell fuel-cell cars in the Japanese market with its group companies in Japan such as Isuzu Motors Ltd. (J.IZM or 7202), Suzuki Motor Corp. (J.SUZ or 7269) and Fuji Heavy Industries Ltd. (J.FJH or 7270).
It has not yet been decided whether GM will launch sales of fuel-cell cars on its own in the Japanese market or if it will install its fuel-cell system in the cars of Japanese group automakers, Burns said, according to Kyodo.
Fuel-cell cars are widely viewed as the most promising pollution-free vehicles for the future because they are powered by electricity generated through the chemical reaction between hydrogen and oxygen and emit only water as a byproduct. Carmakers around the world are competing to take the lead in their development.
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