GE Buying ‘Tens of Thousands’ of EVs

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By Chuck Squatriglia October 29, 2010

It makes sense that a company called General Electric would be bullish on cars with cords. But even by that standard the company is diving into the deep end, with what it says will be the biggest order ever placed for electric vehicles.

Of course, almost any order would be the biggest order, but CEO Jeffrey Immelt isn’t screwing around. Speaking in London yesterday, he said GE will order “tens of thousands” of electric vehicles in about a week, a move that is sure to jump-start the nascent EV market as automakers like Nissan and General Motors bring the cars to showrooms later this year.

The plan makes sense for several reasons.


First and foremost, General Electric builds the equipment that provides one-third of the world’s electricity, so of course it will do everything possible to promote the technology. GE is moving quickly into the EV space, building charging stations and working with A123 Systems to develop batteries. According to Bloomberg, Immelt says about half of the company’s sales force of 45,000 employees will drive electric vehicles. That will go a long way toward raising public awareness of the technology. And don’t forget that GE Capital has a vehicle-leasing division.

“GE has been one of the biggest players in this game and certainly has a lot to gain from the electric vehicle,” Brett Smith, a vehicle technology analyst at the Center for Automotive Research, told Bloomberg. “They’ve really truly tried to push this hard to get things going, and it seems to be a core corporate value.”



Read More http://www.wired.com/autopia/2010/10/ge-buying-tens-of-thousands-of-evs/

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