Green Fleet Vehicle Market Boosted by GE EV Purchase
This week GE announced plans to purchase 25,000 electric cars by 2015. This the largest purchase in the history of electric vehicles. The purchases will be for its own fleet and for its Capital Fleet Services business, where customers can lease electric cars through GE. GE plans to convert over 50 percent of its massive global fleet (over 10,000 fleet vehicles) and purchase 12,000 electric cars from GM.
GM does big business in fleet sales. Fleet sales look like they’re going to be a key part of electric vehicle adoption. Corporate fleets make a lot of sense because of their sheer volume. Plus GE fleet sales are quite profitable. One of the most popular green fleet vehicles is the GE Volt, an electric vehicle that shifts to gas power after going 25 to 50 miles on its battery, so drivers aren’t entirely dependent on the battery.
According to BusinessWeek, gigantic orders like this could do a lot to push electric vehicle prices down and speed up adoption. “By electrifying our own fleet, we will accelerate the adoption curve, drive scale, and move electric vehicles from anticipation to action,” CEO Jeffrey Immelt said in a company statement.