Richard Wagoner, chief executive officer of GM, said that the company’s leadership team is nearing a decision on a possible $500 million investment in a 2008 rollout of a line of fuel cell vehicles, Bloomberg News reported. Fuel cells, which use hydrogen and oxygen to produce power, are seen by many as a solution to the United States’ dependence on oil and reducing potentially harmful emissions from car and truck engines. Wagoner said that he favors producing the cars as a way to reduce so-called greenhouse gases that scientists say are warming the Earth, Bloomberg News reported.

Originally posted on Fleet Financials