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GM to Use Cost Savings to Fight Toyota `Green' Cars, People Say.

General Motors Corp., losing sales to Toyota Motor Corp., will use some of the $9 billion in savings from cost cuts this year to make vehicles that match the Japanese automaker in technology and fuel efficiency, according to people familiar with the strategy. GM's plans include a hybrid-electric vehicle with a battery that recharges at any outlet, improved gasoline engines, hybrid versions of its Silverado pickup trucks and hydrogen-powered fuel-cell models that emit only water vapor, according to the people, who didn't want to be identified because the plan isn't public. Chief Executive Officer Rick Wagoner will outline the strategy in a speech before the end of the year, one of the people said.

GM to Use Cost Savings to Fight Toyota `Green' Cars, People Say.
xcel, Oct 29, 2006
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