Posted by lkgeo1 on September 15, 2006, 7:39 am
GM vice chairman wants mass produced hydrogen cars by 2011
Publication Date:14-September-2006
11:00 PM US Eastern Timezone
Source:Thomas Watkins-Associated Press
CAMP PENDLETON, Calif. - Hydrogen fuel cell-powered vehicles could hit
showrooms as early as 2011, General Motors Corp. Vice Chairman Bob Lutz
said Thursday. Calling the effort a "moon shot," Lutz said it is vital
the world's largest auto maker commits to the new technology, so it can
win back its reputation as an innovator and design leader.
"This is to re-establish our technological credentials with the
American public and the American media," said Lutz, who spoke at the
military base where the company was delivering a hydrogen concept car
that will be test-driven by Marines in coming months.
"And it has a huge re-moralizing effect in the company as our people
see how serious we are," he added.
Up to $9 billion has been freed up as a result of General Motors'
recent restructuring, Lutz said. The company now has more money to
invest in hydrogen fuel cell-powered cars, which will form an important
part of the auto giant's long-term economic recovery plan.
The company, which is suffering from declining U.S. market share at the
hands of its Asian competitors, lost $8.6 billion in 2005 amid high
healthcare, pension, labor and materials costs.
"We are going to make General Motors what it was in the '50s and '60s
again," Lutz said.
Lutz acknowledged GM lost a technological edge to Toyota by failing to
recognize the potential of gasoline-hybrid technology, and promised
that won't happen again with hydrogen cars. He did not specify how much
cash would be channeled toward production of the new cars or how many
vehicles would be produced. But a company said GM has so far spent $1
billion on the technology and will spend a similar amount by 2010.
Virtually every automaker is conducting tests of hydrogen-powered
vehicles, which have received support from a five-year, $1.2 billion
hydrogen initiative first announced by President Bush in his 2003 State
of the Union address.
German automaker BMW AG said Tuesday it will introduce the world's
first hydrogen-powered luxury performance car.
The pollution-free technology holds the potential of zero emissions -
except steam - and a sustainable source of energy produced when
hydrogen and oxygen are mixed. Carbon emissions are reduced to zero,
provided the energy used to produce hydrogen comes from renewable
sources.
Lt. Col. Jay Malik said the Marine Corps is looking at alternative
fuels for environmental reasons, and because hydrogen-powered cars
could simplify logistical planning on the battlefield, where the
distribution of gasoline can be challenging.
Many obstacles exist before fuel-cell cars hit showrooms, mainly a lack
of hydrogen fueling stations. California leads the nation in installing
hydrogen fueling stations, Lutz said, currently with 31 around the
state.
But even if energy companies fail to boost hydrogen production, Lutz
said GM would still have a potentially large international market
share.
"Whether or not we get a hydrogen infrastructure, it doesn't matter,
because China will be the first hydrogen economy," he said.
Posted by nicksanspam on September 15, 2006, 10:33 am
>GM vice chairman wants mass produced hydrogen cars by 2011
Ah. More Deetroit arrogance :-) Where will he find the hydrogen?
>The company, which is suffering from declining U.S. market share at the
>hands of its Asian competitors, lost $8.6 billion in 2005 amid high
>healthcare, pension, labor and materials costs.
Gas guzzlers vs gas misers. Ford seems to be dismantling itself as well.
>"We are going to make General Motors what it was in the '50s and '60s
>again," Lutz said.
And perhaps what it was in 1910.
Nick
Posted by Eeyore on September 15, 2006, 11:49 am
lkgeo1 wrote:
> GM vice chairman wants mass produced hydrogen cars by 2011
So that we can use even more oil probably !
Graham
Posted by Chuck Whealton on September 15, 2006, 1:19 pm
lkgeo1 wrote:
> GM vice chairman wants mass produced hydrogen cars by 2011
> Publication Date:14-September-2006
> 11:00 PM US Eastern Timezone
> Source:Thomas Watkins-Associated Press
> CAMP PENDLETON, Calif. - Hydrogen fuel cell-powered vehicles could hit
> showrooms as early as 2011, General Motors Corp. Vice Chairman Bob Lutz
> said Thursday. Calling the effort a "moon shot," Lutz said it is vital
> the world's largest auto maker commits to the new technology, so it can
> win back its reputation as an innovator and design leader.
> "This is to re-establish our technological credentials with the
> American public and the American media," said Lutz, who spoke at the
> military base where the company was delivering a hydrogen concept car
> that will be test-driven by Marines in coming months.
> "And it has a huge re-moralizing effect in the company as our people
> see how serious we are," he added.
> Up to $9 billion has been freed up as a result of General Motors'
> recent restructuring, Lutz said. The company now has more money to
> invest in hydrogen fuel cell-powered cars, which will form an important
> part of the auto giant's long-term economic recovery plan.
> The company, which is suffering from declining U.S. market share at the
> hands of its Asian competitors, lost $8.6 billion in 2005 amid high
> healthcare, pension, labor and materials costs.
> "We are going to make General Motors what it was in the '50s and '60s
> again," Lutz said.
> Lutz acknowledged GM lost a technological edge to Toyota by failing to
> recognize the potential of gasoline-hybrid technology, and promised
> that won't happen again with hydrogen cars. He did not specify how much
> cash would be channeled toward production of the new cars or how many
> vehicles would be produced. But a company said GM has so far spent $1
> billion on the technology and will spend a similar amount by 2010.
> Virtually every automaker is conducting tests of hydrogen-powered
> vehicles, which have received support from a five-year, $1.2 billion
> hydrogen initiative first announced by President Bush in his 2003 State
> of the Union address.
> German automaker BMW AG said Tuesday it will introduce the world's
> first hydrogen-powered luxury performance car.
> The pollution-free technology holds the potential of zero emissions -
> except steam - and a sustainable source of energy produced when
> hydrogen and oxygen are mixed. Carbon emissions are reduced to zero,
> provided the energy used to produce hydrogen comes from renewable
> sources.
> Lt. Col. Jay Malik said the Marine Corps is looking at alternative
> fuels for environmental reasons, and because hydrogen-powered cars
> could simplify logistical planning on the battlefield, where the
> distribution of gasoline can be challenging.
> Many obstacles exist before fuel-cell cars hit showrooms, mainly a lack
> of hydrogen fueling stations. California leads the nation in installing
> hydrogen fueling stations, Lutz said, currently with 31 around the
> state.
> But even if energy companies fail to boost hydrogen production, Lutz
> said GM would still have a potentially large international market
> share.
> "Whether or not we get a hydrogen infrastructure, it doesn't matter,
> because China will be the first hydrogen economy," he said.
I wish I could believe GM, but I can't. I've seen some bad quality out
of them. They have nothing to compete against Honda and Toyota's
hybrid technology (which I'm aware some people consider not even a
bandaid).
I've lost confidence in them completely. I hope something really does
change.
Charles R. Whealton
Charles Whealton @ pleasedontspam.com
Posted by lkgeo1 on September 15, 2006, 1:58 pm
Quantum Technologies to Present at Merriman Curhan Ford & Co.'s
Investor Summit 2006 on September 18th
- Hundreds of Institutional Investors Will Attend During the
Three-Day
Conference -
IRVINE, Calif., Sept. 15 /PRNewswire-FirstCall/ -- Quantum Fuel
Systems
Technologies Worldwide, Inc. (Nasdaq: QTWW), a leading designer,
manufacturer and integrator of packaged fuel systems and accessories
for
specialty vehicles and applications, including hydrogen fuel cell,
hybrid,
and alternative fuel vehicles, today announced that Alan P.
Niedzwiecki,
President and CEO, will present at the third-annual Merriman Curhan
Ford &
Co. Investor Summit on September 18, 2006 at 4:00pm. This event will be
held at the Mark Hopkins InterContinental Hotel in San Francisco.
More information about the conference can be found at:
http://www.merrimanco.com .
About Quantum
Quantum is a leader in powertrain engineering, system integration,
and
manufacturing of packaged fuel systems and accessories for specialty
vehicles and applications, including fuel cells, hybrids, alternative
fuels, hydrogen refueling, new body styles, mid-cycle vehicle product
enhancements, and high performance engines and drive trains for OEMs
and
consumers of specialty equipment parts and accessories. Quantum also
designs and manufactures hybrid and fuel cell vehicles.
Quantum has product commercialization alliances with General
Motors, AM
General, Sumitomo, and IMPCO. Quantum's customer base includes General
Motors, Toyota, Opel, Hyundai, Suzuki, Ford, DaimlerChrysler, Sunline,
Yamaha, AeroVironment, and the U.S. Army.
More information can be found about Quantum's products and services
at
http://www.qtww.com .
Quantum is a member of the Russell 2000(R) and Russell 3000(R)
indexes.
For more information regarding Quantum, please contact:
Dale Rasmussen
Investor Relations
Email: DRasmussen@qtww.com
+1-206-315-8242
(C) 2005 Quantum Fuel Systems Technologies Worldwide, Inc.
Advanced Technology Center
17872 Cartwright Road, Irvine, CA 92614
Phone 949-399-4500 Fax 949-399-4600
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.
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Related links:
http://www.merrimanco.com
http://www.qtww.com
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