When Nations begin jumping into the automotive and oil business with big dollars to hand out, companies are more than willing to pony up there own cash to help make the changes.
I’m just wondering if the idea of a hydrogen powered vehicle is one that will succeed. I’m a fond believer in Electric powered vehicles and I think dumping this much money we are talking billions into technology that just may not be efficient enough to exceed other technologies already available is just not smart. What am I talking about? Check out the following excerpt.
European governments agreed Friday to spend $731 million developing fuel cells and hydrogen technology for cars that could slash oil consumption and carbon dioxide emissions within decades.
Car and energy companies such as Daimler AG and Royal Dutch Shell PLC are expected to match or exceed the EU funding for the six-year research project that should speed up research and make cleaner cars a commercial reality between 2010 and 2020.
The European Commission says hydrogen cars could cut the amount of oil used by road transport by 40 percent by 2040 and halve carbon emissions by 2050.