CybeRelease: (OTC BB: BSLM) Big Three to Double Renewable Fueled Cars and Trucks
(CybeRelease, June 30, 2006) - Lake Harmony - Ford Motor Co., General Motors Corp, and Chrysler Group plan to more than double annual production of vehicles capable of running on renewable fuels to two million cars and trucks by 2010, the automakers said on Wednesday.
The pledge for more vehicles powered by fuels other than gasoline follows a meeting between the chief executives of the U.S.-based auto giants and congressional leaders last month on efforts to reduce U.S. dependence on foreign oil.
The executives and lawmakers also discussed ways for government to help struggling Detroit carmakers better compete with overseas rivals like Japanís Toyota Motor Corp and Honda Motor Co.
Toyota and Honda have gained market share with cars that go farther on a gallon of gas and new gas-electric hybrids, while GM, Ford and Chrysler have slumped with their marquee pickups and sport utilities that are less fuel efficient.
Ford, GM and Chrysler have increased production of alternative or flexible fueled vehicles to retain buyers and attract new ones concerned about high gas prices and the impact of fossil fuels on the environment.
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