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General Motors (GM) and Chinese partner Shanghai Automotive Industry Corp (SAIC) signed a joint development and commercialization agreement on hybrid and fuel cell vehicles in China. The two companies will co-develop a demonstration vehicle using the latest fuel cell technology, building on GM's Hydrogen3 fuel cell vehicle. As part of the clean energy vehicle effort, GM and SAIC unite with Allison Transmission Division and Swedish Volvo Group to jointly develop hybrid transit buses.
GM believes that clean energy has great prospect in China. "Our near and mid-term solutions include hybrid, which we believe has exciting potential. Yet we see hybrid as a bridge to hydrogen-powered fuel cells from renewable resources. We see this as the ultimate solution for taking the motor vehicle out of environmental equation, guaranteeing energy security," said from a top leader in GM. It is striving to have commercially viable technology available by the end of this decade. SAIC’s spokesman said that the two companies expect to demonstrate "phased results" of their clean energy vehicle program in 2008 or 2010. To develop clean energy vehicles would appear to be an impressive task for the auto industry, especially in China which is depending more heavily on oil imports because of its fast-growing economy.
Also, First Automotive Works Corp (FAW) recognizes the prospect of clean energy vehicle in China. It signed a deal with Toyota to start to produce hybrid vehicles. They express optimistic attitude bullish and confident in China's auto industry because sales of vehicles made in China grew by 18.4 per cent year-on-year.
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