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To: trader who wrote (1569)	5/18/1999 11:16:00 AM
From: trader	Respond to of 2513

GM, Toyota unveil research partnership By Brian S. Akre, Associated Press DETROIT -- The No. 2 executive at General Motors Corp. hinted Monday that a new technology partnership between GM and Toyota Motor Corp. could lead to a broader linkup of the automakers. A merged GM and Toyota would account for more than one-quarter of the world's car and truck sales, but GM Vice Chairman Harry Pearce stopped short of predicting a deal. "It would certainly be premature to talk about a merger," Pearce said in an interview. "But I think it's important for both companies to have a very open mind in terms of where this kind of collaboration takes us." Pearce's provocative comment came after he and Toyota Vice President Akihiro Wada announced a five-year deal to jointly research and develop alternative-fuel vehicles. Pearce said both sides expected the venture to last well beyond five years as "a long-term and continuing collaboration." "I think we've both proven ourselves to be technical innovators in a variety of ways that make this a very, very strong combination," Pearce said. GM is the world's largest automaker; Japan's Toyota is ranked third, behind Ford Motor Co. Pearce said their joint efforts in advanced technology research would give them a tremendous competitive advantage. He said he hoped it would lead to joint production of nonpolluting vehicles. David Cole, who directs the University of Michigan's Office for the Study of Automotive Transportation, said a GM-Toyota merger seems unlikely because of the antitrust issues. "Though it may not be the barrier that it once was, it would be fascinating to see," Cole said. GM Chairman Jack Smith and Toyota Chairman Shoichiro Toyoda have had a close relationship for more than 15 years, dating back to their establishment of a joint assembly plant in Fremont, Calif., that still produces Toyota Corollas and Chevrolet Prizm subcompacts. "What that sort of backdrop says is this is not something new or unique," Cole said of the technology deal. "With the richness of the relationship that has developed, it creates the foundation for some very deep relationships in the future." The GM-Toyota research will initially focus on vehicles powered by fuel cells, batteries and hybrid propulsion systems that combine different technologies, such as electric motors and high-efficiency gasoline engines. Fuel cells generate electricity using a chemical reaction between hydrogen and oxygen and produce little or no emissions. So far they are too expensive for mass-production cars. GM was the first major automaker to mass-market a modern electric car, the EV1. Though demand has been disappointing, it has provided a real-world test of the technology that will be used in developing other electric propulsion systems. Toyota was the first to sell a hybrid electric car in Japan, the Prius, which will go on sale in the United States and Europe next year. Wada said Toyota is working to bring the subcompact's cost down to about the price of a Corolla in the United States and to make a profit. Currently, the car is a money-loser. Pearce, meanwhile, would not rule out the possibility that GM would rename the Prius as a Chevrolet. Automakers have become increasingly competitive in trying to establish themselves as leaders in environmentally friendly technology to impress Wall Street, consumers and to attract high-tech talent. GM-Toyota's announcement came one day before Ford, DaimlerChrysler AG and fuel-cell developer Ballard Power Systems Inc. planned to announce a deal with three oil companies to develop a demonstration fleet of fuel-cell-powered vehicles in California. Pearce and Wada declined to say how much they would spend on their collaboration, but Pearce said it would be substantial. "We're talking hundreds and hundreds of engineers, and major dedication of human resources and capital and laboratory facilities around the world." He noted that suppliers likely will contribute much of the technology and engineering that will go into the cars of the future. That's where the combined size of GM-Toyota will make a difference, he said. "If I were a resident in the supplier community and I was approached by a partnership or collaboration that represented a quarter of the world's market, I would pay a lot of attention to that," Pearce said. Pearce also said the deal will allow GM and Toyota to take advantage of their combined size to get the lowest prices for materials and parts, and to define technical standards for emerging technologies. FRONT METRO ANTELOPE VALLEY CONEJO VALLEY SANTA CLARITA SIMI VALLEY DENNIS McCARTHY NEWS LITE LOTTERY OPINIONS PUBLIC FORUM RICK ORLOV CAPITOL NOTEBOOK SPORTS PREP SPORTS OUTDOORS KAREN CROUSE KEVIN MODESTI BUSINESS KEN LLOYD ENRIQUE RIVERO RESOLUTIONS L.A. LIFE VIRTUAL VALLEY SEARCH SUBSCRIBE CLASSIFIEDS CONTACT US -------------------------------------------------------------------------------- Copyright © 1999 Associated Press. All rights reserved. --------------------------------------------------------------------------------

To: trader who wrote (1569)	5/18/1999 11:19:00 AM
From: trader	Read Replies (1) \| Respond to of 2513

11DCH LEADS STUDY: Officials with Valencia-based DCH Technology Inc. said Wednesday the company has been selected to head a federal study into the use of hydrogen power on ships. The firm will lead a group of 22 organizations in the six-month Department of Energy study, which will center on the feasibility of running both commercial and military ships on hydrogen power, including hydrogen fuel cells. -- Daily News

To: trader who wrote (1569)	5/18/1999 11:25:00 AM
From: Francois Goelo	Read Replies (1) \| Respond to of 2513

Trader, aggressive promoting is wrong when you don't post the appropriate... Disclaimer and when you plainly state that you're not a promoter in the first place. Your close proximity to the Company is clearly affecting your judgement. As far as Oshinsky is concerned, the matter is now closed, as I have sent all the recent documents and posts to the relevant Authorities. So, unless questions are addressed to me or I am being provoked, or unfettered hype is being fed to newbies, you should see far less of me in future. Can you or any one on this Board state that Oshinsky no longer works for DCHT, as Sid seems to imply? F. Goelo + + +