Honda, GM Announce Fuel Cell Tie-Up

New York, July 2 (Jiji Press)--Honda Motor Co. <7267> and General Motors Co. said Tuesday that they have agreed to jointly develop next-generation fuel cell system and hydrogen storage technologies. The Japanese and U.S. automakers plan to bring the technologies to market around 2020. "This collaboration builds upon Honda and GM's strengths as leaders in hydrogen fuel cell technology," GM Chairman and Chief Executive Dan Akerson said in a statement. GM and Honda rank first and second, respectively, in terms of the number of fuel cell patents held in the United States. Fuel cell vehicles emit no carbon dioxide as they convert hydrogen and oxygen to electricity through a chemical reaction. "Honda and GM are eager to accelerate the market penetration of this ultimate clean mobility technology," Honda President and CEO Takanobu Ito said in a statement. Honda has found it advisable to join hands with GM to promote fuel cell vehicles in the U.S. market. Among other Japanese makers, Toyota Motor Corp. <7203> has entered into a fuel cell partnership with BMW AG of Germany. Nissan Motor Co. <7201> has teamed up with another major German automaker Daimler AG in the field. Honda and Toyota plan to sell fuel cell vehicles in the mass market in 2015, to be followed by Nissan targeting 2017. END