RE: RE: FinancialsAlso found an article today from raremetalblog.com of GE investing in 25k EV starting in 2011. I guess it supports why talison has to increase production as they forecast increased activity and investment in the commodity:
Monday, November 15, 2010
The London REE Report: Volts v Voltage.
I won’t kid you: it’s a fun and fascinating car to drive. It’s not what you’d call a dragster; the Volt goes 0 to 60 miles per hour in 9 seconds. But it’s incredibly quiet, even when the gas engine kicks in. And as with any electric, accelerating is a blast. The torque is completely different from a gas car. The push back into your seat is immediate.
Today we return to the GM Chevy Volt, and the newly arriving technology of “flow batteries”, that if they live up to billing will likely change the way in the next two decades that much of the western world uses it electricity. If it all works out as planned, it’s a big step forwards to the more efficient use of electricity. But first back to the Chevy Volt. Last week GE fleshed out its recent announcement about electrifying its US fleet of vehicles. By 2015, GE intends that half its global fleet of vehicles will be one or other form of EV, starting next year with the purchase of 25,000 EVs. Turns out roughly half will be GM’s Chevy Volts. By coincident or design, the NY Times had just published an article road testing the Volt in New York.
GM's Chevy Volt Gets Early Boost From GE
Published: Thursday, 11 Nov 2010
It's the kind of move we will be seeing more often from corporate America.
General Electric is moving quickly to electrify its fleet vehicles. The big push starts next year with GE starting the purchase of 25,000 EV's, including 12,000 Chevy Volts. By 2015, GE plans to have half of its global fleet of vehicles be electric. In short, it's a major commitment by GE with major implications for GM.
For GE, this move signifies its commitment to making its fleet cleaner and greener.
Given GE is already manufacturing re-charging stations, it's only natural that it transform the corporate fleet into models that will use those stations.
Like many large companies, GE knows electric vehicles are perfect for corporate fleets where the routes are typically in the same area day in, day out and where the staff returns the car every night to a central garage, loading dock, or headquarters where they can be re-charged.
For GM, the purchase of 12,000 Chevy Volts by GE is a the kind of endorsement that makes the value of this deal worth so much more than the dollar amount GE is paying for the cars.
While GE is not saying how much it's paying for each Volt, I don't expect it to be close to the $41,000 retail price of the car. Regardless, it's still a huge commitment that GM will gladly take as it ramps up Volt production in 2011.
As of now, GM expects to build 10,000 Volts next year and 45,000 in 2012.