Germany to invest millions in new fuel research

LEIPZIG, Germany (Reuters) – The German government plans to
invest around 500 million euros ($605.8 million) in alternative
fuel technology research over the next 10 years, Transport
Minister Wolfgang Tiefensee said on Saturday.

“This technology needs to get a boost in Europe. We need
new incentives that lead away from oil,” Tiefensee said on
Saturday at the Leipzig car show.

He said that by 2020, hydrogen and fuel-cell technology
would likely be ready for mass production. In the meantime
Germany would need to try to get a headstart in developing new
fuel technology.

Representatives of the auto industry also expressed a
willingness to invest in the development of environmentally
friendly fuels. Tiefensee said he he hoped the industry would
invest another 500 million euros in the government’s research
programme.

DaimlerChrysler board member Thomas Weber said that his
company would invest a significant amount in fuel research. The
carmaker already has around 100 fuel cell vehicles in
operation.