AIAM Announces Support for California Legislation to Fund Alternative Fuel and Vehicle Technology Research

ARLINGTON, Va., Aug. 30, 2007; The Association of International Automobile Manufacturers (AIAM) today announced its support for legislation under consideration in the California legislature that would help the state attain climate change goals by funding the development of alternative fuels and new technologies. The legislation, Assembly bill 118, provides grants and revolving loans to state agencies, California-based businesses and projects, public-private partnerships, vehicle and technology consortia, fleet owners, consumers, and academic institutions.

"The proposed legislation allows the market-place to do its job without picking winners and losers," said Mike Stanton, President of AIAM. "This new funding will help reduce California's dependence on petroleum and spur innovation and competition in the development of more affordable fuels, technologies, advanced vehicles and alternative fuel infrastructure."

AIAM member companies have been the leaders in offering fuel-efficient vehicles for the U.S. market. Historically, vehicles produced by AIAM companies have headed the Environmental Protection Agency's annual list of most fuel-efficient vehicles by pioneering the introduction of advanced automotive technology. In recent years, this leadership has been most apparent through the offering and further development of hybrid vehicles. Member companies are currently pursuing a variety of advanced power train concepts, including plug-in hybrids, advanced clean diesels, full electric vehicles, and fuel cell vehicles.

The Association of International Automobile Manufacturers represents 14 international motor vehicle manufacturers who account for 31 percent of all light duty motor vehicles produced in the United States. Fifty-four percent of all vehicles sold in America by AIAM members are produced in the United States. Nationwide, international automakers have invested $35.5 billion in U.S.-based production facilities, have a combined domestic production capacity of 4.1 million vehicles, directly employ 100,000 Americans, and generate well over 500,000 U.S. jobs in dealerships and suppliers nationwide.

About AIAM -- The Association of International Automobile Manufacturers, Inc. (AIAM) is a trade association representing 14 international motor vehicle manufacturers who account for 40 percent of all passenger cars and light trucks sold annually in the United States. AIAM provides members with information, analysis and advocacy on a wide variety of legislative and regulatory issues impacting the auto sector. AIAM is dedicated to the promotion of free trade and to policies that enhance motor vehicle safety and the protection of the environment. Member companies include Aston Martin, Ferrari/Maserati, Honda, Hyundai, Isuzu, Kia, Mitsubishi, Nissan, Peugeot, Renault, Subaru, Suzuki and Toyota. For more information, visit our website at http://www.aiam.org/.