GM Needs Federal Funds for Hydrogen Research Program

Federal Trade Commission Press Release - July 29, 2009

Situation
GM’s retiring VP of research warns company may have to curtail cutting-edge hydrogen fuel-cell development
Needs another $50M to $70M from government, Larry Burns says
GM maintained hydrogen research program intact through bankruptcy
Even through fuel-cell vehicles still years away from going on sale
Seeking direct or indirect federal dollars comes at sensitive time for GM
Already approved for $49.4B in government bailout funds, but has not had direct grants for hydrogen program
Significant Points
GM confirms it’s in talks with government and private entities about grants or partnerships in hydrogen vehicle research
Under Burns, GM has become known for its fuel-cell work
Burns decided to retire to give GM fresh leadership under Alan Taub who will continue in same direction
Besides creating fuel-cell prototypes, GM conducting field test of 115 Chevrolet Equinox hydrogen SUVs
Test shows how far technology has come, says Patrick Serfass of National Hydrogen Association
Burns says GM must continue hydrogen funding to stay ahead of Japanese, South Korean and German automakers that have their own programs
Says
"The design we're working on right now would just knock your socks off," says Larry Burns, GM’s retiring vice president of research.
Background
Web Source
www.usatoday.com/money/autos/2009-07-28-fuel-cell-general-motors_N.htm