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GE shows support for GM

By SYF77 on 23 Nov 2010

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U.S. industrial giant, General Electric (GE), will be purchasing 25,000 electric cars (EVs) by 2015 and about half of them with be from General Motors (GM). This new fleet of EVs will supplement/replace the existing vast fleet of around 30,000 vehicles that GE has, including cars available for lease by consumers from the company’s GE Capital division.

According to a Bloomberg report, the terms of the deal were not disclosed but a good portion of the purchase is likely to be the Chevrolet Volt, currently GM's only electric car. The order is good news for GM. The Bloomberg report did not specify which other automaker(s) GE was considering buying its EVs from.

"Wide-scale adoption of electric vehicles will also drive clean-energy innovation, strengthen energy security and deliver economic value," said GE CEO Jeffrey Immelt in a press release.

The company's intention with the large purchase may be to spur its own business too. GE's main business is engineering and the company will be investing $10 billion in clean energy technology over the next five years.

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SYF77
Written by SYF77
I have been a car fanatic since 1989, when my father was changing our family car then to a Toyota Corolla 1.6 GL fitted with a Twin Cam 16 valve engine that was carburetor-fed, a big deal back in those days. The automobile technology and industry fascinates me and I hope to broadcast these interesting developments to everyone out there through this blog.



 
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