GE to buy 25,000 electric vehicles from GM, rivals by 2015

[DainBramaged]

General Electric Co. will buy 25,000 electric vehicles, almost half of them from General Motors Co., by 2015 in the biggest such order ever.

Electric autos will make up at least half of GE's 30,000-car fleet, as well as leased vehicles from its GE Capital unit, the company said in a statement today. GM's portion of the order is for 12,000 vehicles including the 2011 Chevrolet Volt. Financial terms weren't disclosed.

GE said it will order from other automakers as they "expand their electric vehicle portfolios."

GE's order is a boost for the Volt as GM prepares for an initial public offering after its 2009 restructuring in bankruptcy.


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