General Motors Company (NYSE:GM) plans to advance the refuelling infrastructure


Dallas, Texas 07/03/2013 (Financialstrend) – General Motors Company (NYSE:GM) closed in the previous trading session at $34.10 after going up by 0.29% (or $0.10). The intra-day range of the stock is $33.82-$34.94. The market capitalization of the company is $46.88 billion.

Honda and General Motors Company announced yesterday that they will be collaborating in a definitive, long term master agreement in order to co-develop next generation hydrogen storage technologies and a fuel cell system, aiming at the 2020 time frame. This collaboration is expected to be successful by generating economies of scale, sharing expertise and common sourcing strategies.

Honda and general Motors are planning to work together with stakeholders so as to further advance the refuelling infrastructure, which is essential for consumer acceptance and long-term viability of fuel cell vehicles. These companies are the acknowledged leaders in the world of fuel cell technology. GM and Honda are ranked number 1 and number 2 respectively in total fuel cell patents that were filed between 2002 and 2012, according to the Clean Energy Patent Growth Index, filing in total 1,200 patents.

The chairman and the Chief Executive Officer of General Motors, Dan Akerson, asserted that this collaboration builds upon the strength of Honda and General Motors as leaders in the field of hydrogen fuel cell technology. Mr. Akerson said the companies are convinced with the fact that this is the best method they can apply to develop this essential technology, which has the potential of reducing the dependency upon petroleum, maintaining sustainable mobility.

The Project Driveway program of General Motors, launched in 2007, has collected approximately 3 million miles of driving in the real world in a fleet of 119 vehicles that are hydrogen-powered a record no other automaker has achieved.