Spain, Portugal invests $150m to make fuel cell or electric car by end of this year

Spain and Portugal are getting into the green car biz. The two countries are investing 150m EUROS into an effort to create a fuel cell or electric car project called Mobi-green. The governments hopes the partnership will mean new jobs and a prototype will be built by the end of the year.

"We want to create the technology that will allow us to consume the least amount of gasoline possible," said Spanish Minister for Industry Joan Clos. "Our goal is to create an environmentally friendly car that can be produced with technology from Portugal and Spain,"is how Braz Costa, head of Portugal's CEIIA research center, put it.

Portugal's CEIIA will build the car along with Spain's CTAG. The funding will come from the private and public sectors. Mobi-green reminds me of other recent pushes from government and private companies like the Israeli Project Better Place and the Parisian Bertrand Delanöe.

[Source: TVNZ]