In what can be called a sweeping move for the growing fuel cell market, top car makers General Motors and BMW have reached in an agreement. The cooperation deal will help BMW access to the nascent fuel cell technology of the American car maker. In replay, the German luxury car maker will fund GM for researches. As per analysts in auto sector, the move is expected to bring some revolution in the emergent fuel cell market. Of course, deal between the car makers will result in many developments in the alternative vehicle market.
Both car makers have been working with hydrogen powered vehicles for more than twenty years. GM is reportedly fleet and consumer testing its new line of Chevrolet Equinox Fuel Cell vehicles in Hawaii. As well, BMW launched 1-series hybrid cars for global markets. In other words, both car makers have been either in researches or testing for their new fleet of fuel cell vehicles. It is in this juncture, the decisive deal has been struck between GM and BMW.
General Motors has recently announced that it spent over $1.6 billion in developing fuel cell technology. Many more automakers such as Honda, Toyota and Hyundai are to roll out fuel cell vehicles in huge numbers within next three years. Indeed, the GM and BMW deal for cooperation becomes more worthy here. The companies might be attempting to remain big players in the industry with the technology sharing agreement.
However, no more details about the deal are publicized. It is, in fact, the second large agreement that BMW makes with an automaker in development of next-generation technology. Quite recently, the German car maker teamed up with the Japanese car maker Toyota to develop lithium-ion batteries. Indeed, the company might have an intention to remain accessed to all new technologies through official partnerships, thus it can deploy new technologies in its future products for cheap prices.