Daimler AG announced that they will start mass production of fuel cell cars in less than 10 years.

"By 2012 or 2015, we will be technologically well-advanced and in a position to produce cost-effective cars, comparable to those with other technologies," Christian Mohrdieck, Daimler's director of fuel cell system development, said at a conference.

Fuel cell cars are powered by electricity generated through a chemical reaction between hydrogen and oxygen. They emit only water as a byproduct.

Daimler showed its first fuel cell car, the Necar 1, in 1994. To date, Daimler's test fleet of roughly 100 fuel cell models has been driven more than 2.23 million miles. The tests have been conducted all over the world.

Hyundai also announced that they will launch the first fuel-cell car between 2012 and 2015. GM hopes to have its fuel cell powertrain ready for mass production by 2010.