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Business Brokerage General Motors and partner Shanghai Automotive agreed Saturday to work on developing and commercializing hybrid and fuel-cell vehicles, citing the need to improve energy security and reduce pollution as China moves into the auto age.

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Forex Broker The agreement, signed at the headquarters of Shanghai Automotive Industry Corp., expands on a plan announced earlier this month by General Motors Corp. to cooperate with state-run SAIC in building a hybrid bus to test run in Shanghai.

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Online Brokerage The recent surge in oil prices has driven home the need to develop vehicles that run on alternatives to traditional gasoline and diesel, and Shanghai's leaders have pledged support for research and development of such vehicles, GM Chairman Rick Wagoner said.

Cell is the latest product of DaimlerChrysler’s continuing development of fuel cell technology in vehicles. Pioneering the fuel cell vehicle technology more than a decade ago, the company is now the biggest proponent of the said technology, spending more than $1 billion in fuel cell vehicle research and registering more than 1. emissions driving. Among the company’s large fleet of fuel cell vehicles are the Dodge Sprinter vans, Mercedes Benz Citaro fuel cell buses, and several of other research vehicles.

Real Estate Broker ``This is in support of the long-term strategic plan of the Chinese government to promote a sustainable automotive industry,'' said Wagoner. ``It's a big enough problem that it requires support from the government.''

A GM spokesman says the auto financing venture should start doing business soon in China, and will offer financing for vehicles manufactured by the automaker's joint ventures with China's Shanghai Automotive Group.Rival automakers Toyota ( TM), Volkswagen AG ( VLKPY) and Ford ( F) have also applied to offer auto financing in China.

Agency Brokerage Spark Booming demand has turned China into the world's fastest-growing auto market, but the explosion in auto use has added to energy shortages and worsened already severe air pollution in many cities, including Shanghai.

cell system in a new version of its FCX concept vehicle. The new fuel cell system will debut at the Los Angeles International Auto Show to be held in early December. passenger luxury sedan unveiled by Honda at the Tokyo Motor Show last year. generation fuel cell system. ready system. In fact, the automaker has announced that a production version of the FCX concept sedan may be realized within three to four years time.

Business Broker The city recently hosted an exhibition on energy-efficient, environmentally friendly cars that highlighted its interest in developing such new technologies.

Brokerage Account ``If we still go further in the traditional way, shortages of resources and environmental damage will only worsen,'' said Shanghai's vice mayor, Hu Yanzhao.

Stock Broker The new agreement calls for GM and SAIC to codevelop a demonstration vehicle using fuel-cell technology, based on GM's HydroGen3 vehicle, which is already being used in demonstration programs in Tokyo and Washington, DC.

Brokerage Online Stock Trading A two-year demonstration of the vehicle, beginning in early 2005, is ``designed to showcase the benefits of fuel cell vehicles in real-life applications,'' GM said in a statement.

Broker Justin Ticket Fuel cells, which fuse hydrogen and oxygen to produce electricity, heat and water, are considered the ultimate power source because of their efficiency and lack of pollution.

Real Estate Brokerage The biggest challenges are in cost and the lack of infrastructure to fuel and maintain such vehicles, which can cost US$1 million or more apiece to build, industry sources say.

Commodity Broker China is stepping up efforts to develop such ``clean vehicles'' ahead of the 2008 Olympics in Beijing and the 2010 World Expo in Shanghai.

Brokerage House GM is among many automakers beginning to nurture the market here for such new technologies.

Real Estate Broker Exam DaimlerChrysler AG says it plans to test three hydrogen fuel-cell buses in Beijing next year. Toyota Motor Co. intends to assemble and sell its gasoline-electric Prius hybrid in China.

Brokerage Services ``It's going to be a competitive market,'' Wagoner said.

Broker Live Ticket Associated Press - 10/30/2004

Topic: Transportation

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