By on October 29, 2010

GE plans on having half of its 45,000 employees driving electric vehicles as part of a $10b investment in clean technology over the next five years, and it’s kicking off the effort with an order of “tens of thousands” of EVs according to Bloomberg. Making the announcement at an event sponsored by the University of Cambridge’s Programme for Sustainability Leadership, GE CEO Jeffery Immelt told attendees

Now is exactly the time, because it’s less popular, where we have to invest more. We have to do it more courageously. And we’re going to have to go forward for a while without government at our backs

Experts call the buy the largest EV purchase in history, and say they expect the order to be filled by several companies. But, as a partner of Nissan-Renault ally Project Better Place, we expect the majority of GE’s order to be filled with the first mass-market pure EV, the Nissan Leaf. Much ink has been spilled over the long-term viability of electric vehicles on the consumer market, but little attention has been paid to corporations as a driver of EV sales. It’s possible that GE could be the first of a PR-driven corporate push to bring EVs into wider acceptance.

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16 Comments on “GE To “Jump-Start” EV Market With Record Buy...”


  • avatar
    MikeAR

    I suppose Immelt feels like he hasn’t destroyed enough shareholder value yet. For all the complaints about the old GM Board of Bystanders, the GE board is probably worse than they were. Immelt has wiped out more of the stock’s value than Rick Wagoner ever did.

  • avatar
    JMII

    GE makes electric turbines and other electric producing industrial items right? Yep they sure do: http://www.gereports.com/tag/energy/
    Look the demand of EVs is up, buy your turbines now! Nice PR stunt.

  • avatar
    panzerfaust

    If I were a shareholder I don’t think I’d want to hear that GE was going to do something that was unpopular and very expensive, just to boost another market.

  • avatar
    tparkit

    GE is a major supplier and promoter of green technology, and has done much over the last decade to advance a complex of sustainable energy ecofrauds. As a corporation it suckles at the teat of big government, and never met a coercive social engineering agenda it didn’t like. Because of its drive to subordinate our daily lives to to a collectivist paradigm which the corporation will help structure, direct and profit from, GE has become an important threat to individual liberty and property rights.

  • avatar
    martin schwoerer

    Companies like EVs. They are good for their image and have easily calculable long-term costs. (The price of electricity is low and doesn’t fluctuate). Fleet buyers don’t need the proverbial Swiss Army Knife, and EVs are good enough for many commercial uses.
    At a number of conferences over the past three or so years I have heard representatives of numerous corporations that wanted to buy or lease EVs — but couldn’t, because supply was just not there yet. That is changing, right now.

    • 0 avatar
      MikeAR

      In what world does electricty price not fluctuate? It is subject to change at any time, for example the threat to bankrupt the coal industry, you think that wouldn’t impact electricity prices some? Or any sort of carbon tax, I’m sure that would result in stable rates. Open your eyes, any corporate interest in EVs is for public relations and lip service only. Unless they are like GE and completely taken over by statists and do-gooders. They are obligated to act in the best interests of their shareholders and this isn’t.

    • 0 avatar
      charly

      Electricity is a much smaller part of the running cost so total cost fluctuates less even if electricity fluctuates more than gas (likely has it doesn’t have a gas  tax to act as a stabilizer)

  • avatar

    What’s the incentive (or coercion?) for employees to buy EVs?

  • avatar
    view2share

    Good grief, as if it wasn’t bad enough, there goes more of my investment.

  • avatar
    view2share

    I don’t golf, so why do I need a golf cart?  Where are all the nuclear plants in the USA which will be required to power a switch to electric wonder cars?
    Wonder how far the original electric cars of the early 1900′s could travel?  They have one at the National Auto Museum, Reno.
    Those hybrid cars sneak up on you in parking lots….   beware what is lurking, as quiet they be.

    • 0 avatar
      Tree Trunk

      There is significant unused electric capacity in off peak hours that can charge EV by the millions.
      No major investment in electric production is needed at least not early on.
       
       

    • 0 avatar
      LimpWristedLiberal

      Is your wife satisfied with the size of your penis?  Then you don’t really need a gasoline powered penis extension.  Am I trolling? What is a golf cart really but a vehicle for the undeserving to flaunt their ability to avoid walking. Nissan makes a car like that, but not the Leaf, rather the 350z. It even comes with special instructions on how to fit two golf bags below its rear suspension brace.

  • avatar
    AaronH

    Abraham Lincoln’s Fascism/Corporatism…Bringing good things to life…..

    What…You think Mussolini was the father of Fascism? He got it from Lincoln.

  • avatar

    So, Ghosn will be sleeping better now.
    @Martin Schwoerer: In Germany, the price for electricity has tripled from 1970 to now. Further price increases are to be expected. This has been / is due to taxation, investments in smart E-networks (in order to cope with massive in-feeds from solar power panels into the grid, for example). Going green certainly has its price.


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