by Nate Wooley | November 20, 2012 12:05 pm
General Electric (NYSE:GE) announced on Tuesday that it will purchase 2,000 plug-in hybrids from Ford Motor (NYSE:F).
The vehicles, Ford C-Max Energis, are part of a drive by GE to replace half its fleet with alternative-fuel vehicles. With a goal of having 25,000 such vehicles, the new purchase brings GE’s total to 5,000.
As a part of the deal, Ford also announced a joint-marketing effort that will see the automaker promoting GE’s new fuel infrastructure systems to corporate buyers. That will include charging stations and natural gas stations.
The two firms expressed confidence in electric cars, despite the low rate of adoption in the market. They’re also working with the Georgia Institute of Technology to analyze GE workers’ driving habits to encourage efficient, alternative-fuel driving.
The C-Max Energi, released last month, can go 21 miles on pure electricity before the 100 mile-per-gallon gasoline engine takes over.
Source URL: http://investorplace.com/2012/11/ge-to-buy-2000-ford-plug-in-hybrids/
Short URL: http://invstplc.com/1nzj04i
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.