General Motors Corp - In the News
WSJ says GM and Toyota to announce alternate-fuel deal
General Motors Corp GM
Shares issued 753,008,273 Apr 16 close $130.00
Mon 19 Apr 99 In the News
See DaimlerChrysler AG (DCX) In the News
The Wall St. Journal reports in its Monday edition that General Motors
Corp. and Toyota Motor Corp. will announce Monday a five-year partnership
to develop cars powered by fuel cells and other non-traditional fuel
technologies. The two will announce an agreement to develop so-called
alternate fuel vehicles through 2004, people familiar with the situation
said. That is the year by which several automakers, including GM and rivals
Ford Motor Co. and DaimlerChrysler AG, have said they will have fuel-cell
vehicles ready to manufacture. The GM-Toyota announcement comes one day
before Ford, DaimlerChrysler and Ballard Power Systems Inc., a Burnaby,
British Columbia, fuel-cell manufacturer, plan to announce in California a
partnership with Texaco Inc., Atlantic Richfield Co. and Shell Oil Co., a
unit of Royal Dutch/Shell Group, as well as the state of California, to put
a demonstration fleet of fuel-cell-powered vehicles on the road starting
next year. The GM-Toyota partnership will not involve Ballard. Instead, the
two companies plan to develop their automotive fuel-systems themselves.
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