|Collaboration in Fuel Cell Technology with GM|
|On October 17, 2001, Suzuki Motor Corporation announced a new agreement to collaborate with General Motors Corporation in the development of fuel cell technology. The press release is as per attached hereto.|
|GM and Suzuki to Collaborate in Fuel Cell Technology|
General Motors Corporation (GM) and Suzuki Motor Corporation (Suzuki) announced
today a new agreement to collaborate in the development of fuel cell technology.
This long-term collaboration covers fuel cell vehicle applications and is targeting
future product development.
As part of todays agreement, Suzuki will have access to GM's advanced fuel cell technology. Its engineers will work alongside GM engineers at GMs Global Alternative Propulsion Center (GAPC) facility in Europe.
GMs long-term goal is to take the automobile out of the environmental debate, said Byron McCormick, Co-Director of General Motors GAPC. We believe that hydrogen is the fuel of the future because it can be produced from a variety of sources and does not emit any harmful substances when used. On its own and through its unique partnerships, GM has become a leader in the development of cutting edge hydrogen fuel cell components and has made tremendous progress in integrating these components into vehicles. We are now sharing this application expertise with our partner Suzuki.
To protect the environment and use energy as efficiently as possible is the key automotive challenge of the 21st century, said Hiroshi Tsuda, Managing Director of Suzuki. Fuel Cell technology will play a evolutionary but disruptive role to overcome these challenges. Working with GM in the development of fuel cell application technology will allow our two companies to capitalize on each others strengths and bring new technology to market more quickly.
Since forming an alliance partnership in 1981, GM and Suzuki have cooperated in the development of innovative new products such as the Chevrolet Triax concept car and the Opel Agila.
During the Tokyo Motor Show, GM and Suzuki will officially launch the Chevrolet Cruze, a small car developed specifically for the Asia Pacific market. In addition, GM will showcase the new HydroGen3 prototype hydrogen fuel cell vehicle developed by GAPC and based on the successful Opel Zafira compact van. Suzuki will display an electric vehicle charger and a stationary fuel cell unit developed by GM.
General Motors Corporation (NYSE: GM), the worlds largest vehicle manufacturer, designs, builds and markets cars and trucks worldwide. In 2000, GM earned $5 billion on sales of $183.3 billion. It employs about 372,000 people globally.
Suzuki Motor Corporation, designs, builds and markets automobiles, motorcycles and other products worldwide. In fiscal year 2000, Suzuki had consolidated net sales of over 1,600 billion yen and employed 14,460 people in Japan.