Automakers Promise Fuel Cell Vehicles by 2015

Filed under 'interesting but vague,' automakers released a joint statement promising electric vehicles with fuel cell development and market introduction through a Letter of Understanding (LoU).

The automakers are Daimler, Ford, GM/Opel, Honda, Hyundai/Kia, Renault, Nissan and Toyota. "These companies have built up remarkable know-how in fuel cell technology and thus, the signing marks a major step towards the serial production of such locally emission-free vehicles."

The automakers believe that from 2015, 'a quite significant number' of electric vehicles powered by fuel cells will be commercialized. Of course, the timeline could be even earlier, based on the individual automakers development.

The whole statement is very vague and certainly hard to interpret. Some have pointed to the possible reduction in funding for fuel cell vehicle development as the impetus for the statement.