This report determines cost and performance requirements for Proton Exchange Membrane (PEM) fuel cell vehicles carrying pure H{sub 2} fuel, to achieve parity with internal combustion engine (ICE) vehicles. A conceptual design of a near term FCEV (fuel cell electric vehicle) is presented. Complete power system weight and cost breakdowns are presented for baseline design. Near term FCEV power system weight is 6% higher than ICE system, mid-term FCEV projected weights are 29% lower than ICE`s. There are no inherently high-cost components in FCE, and at automotive production volumes, near term FCEV cost viability is closer at hand than at first thought. PEM current vs voltage performance is presented for leading PEM manufacturers and researchers. 5 current and proposed onboard hydrogen storage techniques are critically compared: pressurized gas, cryogenic liquid, combined pressurized/cryogenic, rechargeable hydride, adsorption. Battery, capacitor, and motor/controller performance is summarized. Fuel cell power system component weight and cost densities (threshold and goal) are tabulated.