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April 04, 2006
Germany to Invest Millions in New Fuel Technologies
LEIPZIG, Germany (Reuters) - The German government plans to invest around 500 million euros ($605.8 million) in alternative fuel technology research over the next 10 years, Transport Minister Wolfgang Tiefensee said on Saturday.
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"This technology needs to get a boost in Europe. We need new incentives that lead away from oil," Tiefensee said on Saturday at the Leipzig car show.
He said that by 2020, hydrogen and fuel-cell technology would likely be ready for mass production. In the meantime Germany would need to try to get a headstart in developing new fuel technology.
Representatives of the auto industry also expressed a willingness to invest in the development of environmentally friendly fuels. Tiefensee said he he hoped the industry would invest another 500 million euros in the government's research programme.
DaimlerChrysler board member Thomas Weber said that his company would invest a significant amount in fuel research. The carmaker already has around 100 fuel cell vehicles in operation.
Posted by dymaxion at April 4, 2006 09:57 PM