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.