By Sam Boughedda
Investing.com — General Motors Company (NYSE:GM) said Wednesday it plans to expand its hydrogen fuel cell business beyond electric vehicles.
The company announced new commercial applications of its Hydrotec fuel cell technology, with projects such as heavy-duty trucks, aerospace and locomotives, currently in development.
GM is planning for multiple Hydrotec-based power generators. These will include a mobile power generator to provide fast-charge capability for EVs, the Empower rapid charger to help retail fuel stations, and a palletized mobile power generator to power military camps and installations.
According to the company, the aim of the generators is to replace gas and diesel-burning generators.
Electric cars are powered by a lithium-ion battery, while hydrogen fuel cell cars, which are being developed by some automakers, are refueled with hydrogen. However, GM is looking beyond just vehicles.
“Our vision of an all-electric future is broader than just passenger vehicles or even transportation," said Charlie Freese, GM's executive director of the global Hydrotec business.
Freese added that “HYDROTEC fuel cells can expand access to energy across many different industries and users, while helping to reduce emissions often associated with power generation.”
GM shares are down more than 3% Wednesday.