BUSINESS MEMO: 80 MILES A GALLON

After spending six years and hundreds of millions of dollars on federal and industry research, General Motors Corp. is unmasking a five-passenger test car that can travel about 80 miles on a gallon of gasoline.

But in meeting several of the goals set out by President Clinton and industry leaders in 1993, the GM Precept also shows that many of the technologies it uses to reach 80 mpg are years away from everyday use. While Honda and Toyota will sell vehicles this year that rely on similar power sources, no automaker has committed to making such cars in great numbers.

Despite the uncertain road, GM thinks that its effort broke new technological ground that underscores the value of industry-government partnerships.