GE announced it will purchase 25,000 electric vehicles by 2015 for its own fleet and through its Capital Fleet Services business - the largest-ever single electric vehicle commitment. GE will convert at least half of its 30,000 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. Chevrolet Volts will roll off production lines this month and other automakers are bringing electric vehicles to market. As this occurs, GE is in a strong position to help deploy the supporting infrastructure to help its 65,000 global fleet customers convert and manage their fleets.
GE businesses including Capital Fleet Services, Energy and Licensing & Trading will benefit from an emerging electric vehicle market that could deliver up to $500 million in GE revenue over the next three years. This includes rapidly developing markets for GE’s charging station, the WattStation.
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