General Motors officials are hinting that their research work on what many experts believe will be the ultimate clean automotive technology could be at risk – unless, that is, the federal government kicks in with yet more money.
Insiders tell TheDetroitBureau.com that GM has already spent over $1 billion to develop its fuel cell technology. But despite the company’s belief that it has an edge on competitors like Toyota and Daimler AG, it warns it doesn’t have the cash on hand, after its recent bankruptcy, to keep up the necessary pace.
“The program has not slowed down at all,” Larry Burns, GM’s retiring vice president of research, told USA Today, in a report on the fuel cell program. “The issue is, going forward, do we have sufficient money to operate at that rate?”