BEIJING, April 7 (Xinhuanet) -- General Motors Corp. and Segway Inc. announced Tuesday they are jointly working to build a two-wheeled, two-seat electric vehicle designed to be a fast and inexpensive alternative to cars and trucks for urban areas across the world.

    The machine to be developed by 2012, runs on a lithium-ion battery and uses Segway's characteristic two-wheel balancing technology, along with dual electric motors. It's designed to reach speeds of up to 35 miles-per-hour and can run 35 miles on a single charge.

    The Personal Urban Mobility and Accessibility, or PUMA, project also would involve a vast communications network that would allow vehicles to interact with each other, regulate the flow of traffic and prevent crashes from happening.

    "We're excited about doing more with less," said Jim Norrod, chief executive of Segway, N.H.-based maker of the upright, self-balancing scooters. "Less emissions, less dependability on foreign oil and less space."

    The companies did not release a projected cost for the vehicle, but said ideally its total operating cost — including purchase price, insurance, maintenance and fuel — would total between one-fourth and one-third of that of the average traditional vehicle.

    (Agencies)