US/DE: GM, BMW, Daimler to invest $1 bln in hybrid project

The three automakers have about 500 engineers who have been working for the past 18 months on the joint development of the next-generation hybrid engine technology, which combines a battery-powered electric motor with a conventional gasoline combustion engine, company representatives said on Friday on the sidelines of an industry trade meeting.
http://today.reuters.com/news/articlebusiness.aspx?type=tnBusinessNews&storyID=nT80682&imageid=&cap=&from=business