November 11th, 2010
09:15 AM ET

GE to buy 25K electric fleet vehicles

GE said Thursday it will buy 25,000 electric vehicles for its fleet through 2015 in the largest-ever purchase of electric cars.

GE will begin with an initial purchase of 12,000 vehicles from General Motor Co., starting with Chevy Volt in 2011. The conglomerate said it "will add other vehicles as manufacturers expand their electric vehicle profiles."

The first Chevrolet Volt is expected to roll off production lines later this month.

GM confirmed the announcement with CNNMoney.com.

soundoff (383 Responses)
  1. Snork

    People are also forgetting that if you want to go more than 40 miles (Popular Mechanics found it to be more like 35 miles in their tests) it will use a gasoline engine. And you have to fill your tank with PREMIUM gasoline. Plus they've found that the cost for the electricity to power these vehicles still costs about half of what gasoline would be. So there is no savings to the individual whatsoever. If you want to "feel good" about a purchase, you'd be much better off getting one of the newer, efficient diesel vehicles, or any one of the many cars that are getting over 30-35 MPH without the toxic batteries.

    November 11, 2010 at 11:43 am | Report abuse |
    • Morton Winterbean

      GM has stated that it gets 5-10% better efficiency with premium and the gasoline has less propensity to go stale (lasts a little longer while sitting in the tank). So at today's prices that $2 more per tank. Big whoop.

      November 11, 2010 at 11:51 am | Report abuse |
  2. beercan thick

    G.E. is a criminal company, the left hand talks about keeping jobs in america and the right hand farms out all the work to mexico and india.......jeff imelt is a rotton ceo and person in general.....

    November 11, 2010 at 11:53 am | Report abuse |
  3. nhdave

    So, where will these vehicles be plugged in? At home? – would you plug in your "company car": at home? How will you get reimbursed for the electricity? OK, plan B might be that GE builds recharge stations outisde every GE facility. Message to GE stockholders: SELL!

    November 11, 2010 at 11:58 am | Report abuse |
  4. Brent

    Where are the green jobs Obama promised Not in light bulbs http://www.washingtonpost.com/wp-dyn/content/article/2010/09/07/AR2010090706933.html. All the green light bulbs are made over seas.

    November 11, 2010 at 11:59 am | Report abuse |
  5. Blownfuelcoupe

    God Speed and may you never have to drive more than 42 miles.

    November 11, 2010 at 12:01 pm | Report abuse |
  6. TheSitRep

    Like the Toyota Prius, GM will lose $ every time they sell one. We should be using LPG to run cars.

    November 11, 2010 at 12:02 pm | Report abuse |
  7. nhdave

    GE's Jeff Immelt and Obama... One hand washes the other. Immelt is on BHO's economic team. GM is betting the farm on the Volt. "the government owns 60+% of GE. can you imagine BHO and Immelt talking? "Hey, Jeff... What if no one buys the Volt?" Jeff: " Don't worry Barry, I've got your back."

    November 11, 2010 at 12:03 pm | Report abuse |
  8. Chase

    After reading this article, I was going to post a commnet detailing some of the fallacies supporting electric car in general. However, after reading the stream of technically sound comments, I can add nothing new.The information within these 80-some comments is all one needs to know to understand why the Volt: it a cruel joke technically, economically and environemntally, that will be a huge commercial failure. This is what results when technologists are overruled by lawyers making policy.

    November 11, 2010 at 12:04 pm | Report abuse |
  9. Yeah Right

    Does anyone smell a rat? This is quite cozy. To think that GE who took several billions of dollars in guarantees from the TARP program, would buy 12,000 cares from GM who took billions in Government money is interesting and I believe deserves some independent analysis. Beside the appearance of this looking as a payback to the Obama administration, it should send up warning signals to all GE shareholders. According to every auto periodical there is absolutely no evidence that supports GM's claims of the Volt's mpg rating. As a matter of fact, the car has been characterized as a highly priced, poorly designed, visually unappealing car that barely gets better gas mileage than other cares that are out in the market today. Why would GE want to spend somewhere around $250 million (12,000 x $20,500... assuming that GE will get a 50% discount for such a large purchase) for a car whose performance is unquestionably lower than advertised??? Sounds like a "Good Ol'e Payoff" to me. GE shareholders beware. Were is your CEO leading you? It's obvious this former shareholder.

    November 11, 2010 at 12:05 pm | Report abuse |
  10. Blownfuelcoupe

    The eviromentalists need to understand that without vast petrolium production there never be "Green Solutions".

    November 11, 2010 at 12:07 pm | Report abuse |
  11. hsr0601

    My viewpoint:

     
    1. I embrace Smart grid & Renewable Energy & EVs as one package.
     
    2. Large-scale adoption of EVs could help finance smart grid & renewable energy, by channeling oil cash into the utilities.
     
    3. Better still, they will charge mostly overnight with the untapped, or mostly WASTED electricity without having to build another power plant, as hydro & Wind & nuclear power plants keep operating around the clock.
     
    4. Used Batteries Can Be Used In Smart Grids for an invaluable storage device As EVs become more widely available, they are also churning out the used batteries down the road.
     
    5. By storing power from cheaper off-peak periods, the battery in EVs is able to power a house during expensive peak periods, even better, sell excess power back to the grid simultaneously, EVEN AFTER its automotive life.
     

     
    6. There is no question in my mind that world can't expect noticeable employment expansion until it moves towards alterative transportation.
    While some critics are counting cents on the utility bill, it is claimed that : " the U.S. uses about 24 percent of the world's oil, this equates to 20.9 million barrels a day. If the U.S chooses to embrace renewable energy, the U.S could save $750 billion per year and create about 6 million jobs".
     

    November 11, 2010 at 12:07 pm | Report abuse |
    • Gates1588

      Regretfully, your post reflects a lack of understanding of capital markets. It falls apart with your second point, "...Large-scale adoption of EVs could help finance smart grid & renewable energy, by channeling oil cash into the utilities." It doesn't work like that. The push back is not the cost of a new grid. Those have been created before (think about telegraph and telephone lines and the first paved highways). It's the renewable energy source itself that fails. Until hydrogen is harnessed, it is technologically impossible to create a power source that provides sufficient energy transfer to warrant the financial costs. If your intent is to subsidize the entire process with government money then all bets are off. Not only would you destroy the foundation of capitalism (a self-directed exercise) relative to personal transportation, you would snip the source of future funding for the same since all phases of the construction would need to be publicly funded. Without the taxes produced by capitalism there is no money to complete your vision. Why do you think China, the bastion of controlled government and communistic approaches (small "c"), has been expanding into capitalism? Because it provides a revenue stream for government to operate. The men and women who are the best and brightest capitalists are very practical and far-thinking. i will give you this much credit – in the 1950's GM sold the idea in Los Angeles that it was cool for everyone to have their own car and to live miles apart, so the initial mass transit system was dissolved. It was a gross error in political judgement but a great capital move by GM. Today, government money in California is being squandered for other reasons so there is no funding available to repair the damage caused by GM's "success". Bottom line, as laudable as your goal may sound, it fails technologically and financially. Big money will usually avoid funding an ultimate disaster. GE is setting itself up to go the way of WorldCom and Enron, both built on phony over-statements and self-promotion far exceeding the results..

      November 11, 2010 at 1:53 pm | Report abuse |
  12. joeybiten

    looks like gm's ceo chairman obuma 'closed' the deal with his buddy, jeffrey immelt.
    what a 'clusterf*#$k!
    and know we'll have to hear all of obum's talking heads tell us what a great deal this is....

    November 11, 2010 at 12:10 pm | Report abuse |
  13. An American

    Lets see GE (Bail out Money) and Gov Motors (Bail out Money) Hmmmmmmmm redistribution of Americans Tax money. Ponzi we will see more of this as the Gov tries continues to inject themselves into our lives.

    November 11, 2010 at 12:13 pm | Report abuse |
  14. Matt

    The Volt is destined to become nothing more than a short, goofy, video clip at the beginning of some future History Channel special on failed technologies. Perhaps wedged between the videos of the anti-grizzly-bear-attack suit tester and the guy jumping off a bridge in a birdman contraption.

    November 11, 2010 at 12:25 pm | Report abuse |
    • Chase

      Well said, Matt. Technical arguments are mostly ineffectual and wasted on non-technical thinkers. Ridicule is more effective!

      November 11, 2010 at 12:51 pm | Report abuse |
  15. OneMoreBuck

    AND,
    Each one comes with a Tax Payer Bailout of about $7000.00 kick back from the Government

    We the Tax Payers are being taken for saps, marks and pigeons. We just keep bailing out the government and
    any number of the expatriated businesses they stole from us.

    Chavez, open the gates, cuz we are on our way!

    November 11, 2010 at 12:25 pm | Report abuse |
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