GE Plans to Order “Tens of Thousands” of EVs

In a speech in London, General Electric CEO Jeffrey Immelt said that the company will order “tens of thousands” of electric vehicles in about a week. Immelt did not specify a total or identify suppliers.

Immelt said half of GE’s sales force of about 45,000 will drive electric vehicles. The Fairfield, Connecticut-based company also has a vehicle-leasing division through its GE Capital finance unit. Financial terms and other details about the order aren’t yet being disclosed, GE said.

GE is investing $10 billion over the next five years in clean energy across its business lines, including power-transmission software and so-called smart-grid technologies. Its products include lithium-ion batteries for cars and trucks via a venture with A123 Systems Inc. and sodium-based batteries for use in large vehicles such as locomotives.

Source: Bloomberg