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General Motors Company
Symbol GMM
Shares Issued 1,451,677,428
Close 2017-11-17 U$ 43.89
Market Cap U$ 63,714,122,315
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Post/AP say GM sees Toyota stick with hydrogen

2017-11-17 06:53 ET - In the News

The Financial Post reports in its Friday edition that while much of the world is gung-ho for electric vehicles to help get rid of auto emissions and end reliance on fossil fuels, Japan's top automaker Toyota Motor is banking on hydrogen. An Associated Press dispatch to the Post says that Toyota sells about 10 million vehicles a year around the world. It has sold only about 4,000 Mirai fuel cell vehicles since late 2014, roughly half of them outside Japan. The Mirai, which means "future," is not cheap at $57,500 (U.S.), and Toyota loses money on each one. Still, the company's goal is to sell 30,000 fuel-cell vehicles a year by about 2020. Hydrogen fuel cells do not suffer the EVs' main drawback of limited range. The Tesla Model S can go about 480 kilometres on a single charge. The Mirai can run for 502 kilometres per fuelling, and Toyota's chairman, Takeshi Uchiyamada, believes hydrogen is an ideal, stable fuel for a future low-carbon society. "In this light, hydrogen holds tremendous potential," Mr. Uchiyamada, known as "the father of the Prius," the world's top-selling hybrid car, said during a tour of the factory. The Prius turned out to be a good bet for Toyota. The Mirai could be the same.

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