No other transportation technology gives us the freedom to go wherever we want, whenever we want, with whomever we choose, carrying whatever we need. This connectivity is what fuels the nearly universal aspiration people have for automobility. With the world's population projected to reach seven billion people by 2015, the global car parc will grow to nearly 850 million vehicles over the next 15 years if the ownership rate remains at 12 percent. While this represents significant growth in the demand for our products, as an industry we need to be thinking bigger than this. Clearly, we will not be able to take advantage of this huge market opportunity unless automobility is truly sustainable.
Fuel cells powered by hydrogen offer the promise of sustainable mobility.
At General Motors, we are absolutely committed to being the industry leader in high-volume production of affordable advanced technology vehicles. So fasten your seat belts. You're in for the ride of your life. Now, Bill will give you some of the technical details on our gasoline reforming developments.