GE invests in electric fleet

GE (NYSE: GE), Fairfield, Conn., announced today it will purchase 25,000 electric vehicles by 2015 for its own fleet and through its Capital Fleet Services business - a move the company claims is the largest-ever single electric vehicle commitment.

GE will convert at least half of its 30,000-vehicle global fleet and will partner with fleet customers to deploy a total of 25,000 electric vehicles by 2015. GE will initially purchase 12,000 GM vehicles, beginning with the Chevrolet Volt in 2011, and will add other vehicles as manufacturers expand their electric vehicle portfolios. GE and its partners will use a mix of electric vehicle technologies to meet their respective needs.

“Electric vehicle technology is real and ready for deployment and we are embracing the transformation with partners like GM and our fleet customers,” said GE Chairman and CEO Jeff Immelt. “By electrifying our own fleet, we will accelerate the adoption curve, drive scale, and move electric vehicles from anticipation to action. We make technology that touches every point of the electric vehicle infrastructure and are leading the transformation to a smarter electrical grid.”

GE Release

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