General Motors Europe and Iberdrola have signed an agreement to jointly perform a feasibility study which, ultimately, will analyze the technical requirements of a recharging infrastructure for the integrated marketing and viability of plug-in electric cars. The agreement has been signed by Javier Villalba, Director of Spain Network Business, and Jamal El-Hout, Vice President, Product Planning from General Motors Europe.

This cooperation reflects the interest of both companies, worldwide leaders in their respective business areas, to encourage the development of electric vehicles, in particular extended-range electric vehicles like the Chevrolet Volt, which use at high scale will significantly contribute to increase energy efficiency and environmental protection.

Both companies already work together in an important international project related to plug-in electric vehicles, coordinated by the prestigious Electric Power Research Institute (EPRI) from the United States and with the participation of another 41 electrical companies from all over the world.

2011 Chevrolet Volt Propulsion System The main areas of the study, which will be carried out in Spain and the United Kingdom, are convenient and safe charging for consumers. GM and Iberdrola will analyze the requirements for the location of plug sockets in private homes and offices, and public or private parking, and for the installation of electricity meters. In the framework of this study, both companies expect to develop specific actions to assess the optimum viability of electric cars. General Motors Europe and Iberdrola will analyze E-REV technology and the electrical network capacity and will specify the conditions for the electrical charge of vehicles.

In case the outcome of the viability research is positive, both companies foresee to evaluate possible agreements with the different European, national, regional and local governments, to support the implementation of this initiative.

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About IBERDROLA

IBERDROLA has consolidated in the last years as a worldwide energy leader, present in more than 40 countries, with a capacity over 42,000 MW and around 27 million customers. At present, it is the main Spanish energy company, the second eolic company in the United States and the third in gas storage and the third distributor in United Kingdom, country where it is also one of the five reference marketing companies and holds the eolic leadership.

The Company considers that innovation is a strategic issue for its activity development. In this line, Iberdrola has been enhanced by the R&D Scoreboard as the first Spanish utility for its initiative in R&D and the fourth in Europe.

The Group develops a business model that confirms its firm commitment with sustainable development, that has situated them at the head of renewable energies, with almost 8,000 megawatts (MW) of implemented power, and that has been granted with different recognitions during the last years, among which can be highlighted its designation as best company of the utility sector from the prestigious 2008 Sustainability Dow Jones Index (DJSI) or having been considered in 2007 as one of the 100 most sustainable companies in the world, according to Global 100 Most Sustainable Corporations in the World.