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GE Buys 12,000 Chevrolet Volts

GE Announces Largest Single Electric Vehicle Commitment

GE will purchase 25,000 electric vehicles by 2015 for its own fleet and through its Capital Fleet Services business – the largest-ever electric car commitment. GE will convert most 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.

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.

Wide-scale EV use to bring GE $500 million in near-term business

GE owns one of the world’s largest fleets, operates a leading global fleet management business, and offers a portfolio of product solutions including charging stations, circuit protection equipment and transformers that touch every part of electric vehicle infrastructure development. This enables GE to lead wide-scale electric vehicle adoption and generate growth for its businesses.

“Electric vehicle technology is real and ready for deployment and we are embracing the transformation with partners like GM and our fleet customers,” said GE Chairman and CEO Jeff Immelt. “By electrifying our own fleet, we will accelerate the adoption curve, drive scale, and move electric vehicles from anticipation to action.

“We make technology that touches every point of the electric vehicle infrastructure and are leading the transformation to a smarter electrical grid,” Immelt said. “This transformation will be good for our businesses and for our shareowners. Wide-scale adoption of electric vehicles will also drive clean energy innovation, strengthen energy security and deliver economic value.”

GE businesses including Capital Fleet Services, Energy and GE (NYSE: GE) will purchase 25,000 EV including electric cars and plug-in hybrids by 2015 for its own fleet and through its Capital Fleet Services business – the largest-ever single electric vehicle commitment. 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.

GM CEO Dan Akerson said, “GE’s commitment reflects confidence that electric vehicles are a real-world technology that can reduce both emissions and our dependence on oil. It is also a vote of confidence in the Chevrolet Volt, which we will begin delivering to retail customers by the end of this year. We are pleased that the Volt will play a major role in this program, which will spur innovation and benefit our companies, our customers, and society as a whole.”

FedEx Chairman, President and CEO, and Electrification Coalition member Fred Smith said, “With more than 16.3 million vehicles in operation in 2009, the nation’s fleet can drive initial ramp-up scale in the battery industry and OEM supply chains. By buying these vehicles, GE is helping ramp up production which will help lower the price of vehicles and their components and make electric vehicles more visible and acceptable to the public at large. This is good for GE, good for our economy, and good for our nation.”

GE also announced today two electric vehicle customer experience and learning centers to provide customers, employees and researchers first-hand access to electric vehicles and developing technologies. One will be located outside of Detroit, in Van Buren Township, Michigan, as part of GE’s Advanced Manufacturing and Software Technology Center. The other will be located at GE Capital’s Fleet Services business headquarters in Eden Prairie, Minnesota, with several other centers to be announced in 2011. The centers will monitor and evaluate vehicle performance and charging behaviors, driver experiences, service requirements, and operational efficiencies, while also affording the opportunity to experience a variety of manufacturers and models, and gain insights on electric vehicle deployment.

GE is launching this comprehensive electric vehicle program as part of its ecomagination business strategy to accelerate the development and deployment of clean energy technology though innovation and R&D investment. In support of the announcement today, an electric vehicle readiness toolkit has been launched on ecomagination.com to help municipalities, customers, and individuals prepare for wide-scale electric vehicle deployment.

GE Bets $10 Billion on Digital Energy

GE Bets 10 Billion on Digital Energy

By John Addison

GE Smart Charging Stations for Electric Cars

General Electric intends to be the leader in smart grid charging of electric vehicles. GE’s Watt Station EV Charger was personally unveiled today by CEO Jeff Immelt. Globally, GE already helps thousands of electric utilities be more efficient in generating power and in distributing power. With a growing family of smart grid solutions including smart charging of vehicles, GE will help utilities lead in the intelligent generation, management, distribution, and use of energy. Mr. Immelt refers to this as Digital Energy.

After attending the presentation by Jeff Immelt and other luminaries, I was able to talk with Michael Mahan, GE’s Global Product Manager of EVSE.

The GE Watt Station is the first in a family of vehicle smart charging products and services from GE. It will be piloted this year at commercial sites and universities such as Purdue and the University of California San Diego. Within a couple of months we will see the announcement of a GE home plug-in car charger. These products will be made available commercially in 2011 simultaneously in all markets including the Americas, Europe, and Asia.

Although GE’s press release positioned the Watt Station as having a faster charging rate than some competitive offerings, this Level 2 220 volt / 32 amp smart charger delivers electrons at the same speed as other Level 2 chargers such as Coulomb Technologies, Aerovironment, and Ecotality. These competitors have the early lead in installing 15,000 charging stations in the United States. GE is taking a fast-follower strategy with the intent of being the market leader.
The Watt Station complies with J1772 smart charging standards. Its attractive design will appeal to consumers, with a simply friendly interface and retractable cord protected inside the supporting pole. The Watt Station is modular and upgradeable. It can be purchased with an optional credit card reader, or that can be added later. Watt Stations also have optional smart suite communications to utilize smart metering and wireless AMI.

Where GE does have competitive advantage is in its long-term relationship with utilities, its family of end-to-end system solutions, its partnerships, and its financial prowess. Communities littered with last decades charging stations, some no longer working from bankrupt companies will find comfort in the GE brand.

GE Provides Digital Energy End-to-End

As global electric utilities modernize and embrace the added opportunity of transportation that depends less of petroleum and inefficient engines, and more on electricity and efficient electric drive systems, GE can be a major partner. Electric vehicles can be smart charged with GE charging stations, managed with GE software services. Areas with high concentration of electric vehicles can turn to GE for new substations and distribution equipment. Power plants can be upgraded with the latest GE turbines, and supplemented with GE wind turbines, solar power, and grid storage. With a digital energy demand can be shaped off-peak.

GE Unveils Nucleus™ and Brillion Home Energy Management

GE also unveiled Nucleus™, an affordable, innovative communication and data storage device that provides consumers with secure information about their household electricity use and costs so they can make more informed choices about how and when to use power. Nucleus is expected to be available for consumer purchase in early 2011 at an estimated retail price of $149-$199.
GE’s Nucleus brings the promise of the smart grid into consumers’ homes. As utilities deploy smart meters, the Nucleus will collect and store a consumer’s household electricity use and cost data for up to three years and present it to consumers in real-time using simple, intuitive PC and smart phone applications, helping consumers monitor and control their energy use.
Nucleus is the first product in GE’s Brillion™ suite of smart home energy management solutions that will help consumers control their energy use and costs. In addition to Nucleus, GE’s Brillion suite will include a programmable thermostat, in-home display, a smart phone application and smart appliances for the entire home.

By 2012, US utilities are expected to install more than 40 million smart meters. These digital meters enable utilities to charge “time-of-use” rates for electricity throughout the day. When demand is low, electricity will cost less, and when demand is at its “peak,” utilities will charge more to encourage off-peak consumption.

Future Brillion options will also include alerts to assist consumers with daily tasks, such as when to change the refrigerator’s water filter or when the dryer cycle ends. Software upgrades will further enable Nucleus to monitor water, natural gas, and renewable energy sources, as well as plug-in electric vehicle charging.

$10 Billion Ecomagination R&D

GE is driving a global energy transformation with a focus on innovation and R&D investment to accelerate the development and deployment of clean energy technology. Since its inception in 2005, 92 ecomagination products have been brought to market with revenues reaching $18 billion in 2009. With $5 billion invested in R&D its first five years, GE committed to doubling its ecomagination investment and collaborate with partners to accelerate a new era of energy innovation. The company will invest $10 billion in R&D over five years and double operational energy efficiency while reducing greenhouse gas emissions and water consumption.
CEO Immelt expects over 30 new ecoimagination product announcements in the next 24 months, including the GE Watt Station EV charger.

Electric Car Charging and Smart Grid Reports

By John Addison. Publisher of the Clean Fleet Report and conference speaker.