GM Signs Hydrogen Fuel Cell Vehicle Deal with DOE

General Motors Corp. (GM, Detroit, MI) announced that it has signed an $88 million deal with the US Department of Energy (DOE, Washington, DC) to build a fleet of 40 hydrogen fuel cell vehicles and further develop the technology.

Under the five-year program, GM will spend $44 million to deploy fuel cell demonstration vehicles in Washington DC, New York, California and Michigan. The DOE will contribute the other half of the program's investment under an agreement that expires in September 2009.