Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

General Electric Company : GE, Ford Collaborate on Alternative Fuel Vehicle

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/20/2012 | 03:38pm CET
19 November 2012
GE, Ford Collaborate on Alternative Fuel Vehicle

Fairfield, CT - November 20, 2012 - GE (NYSE: GE) today announced a collaboration with Ford Motor Co. in which the company will purchase 2,000 new Ford C-MAX Energi plug-in hybrids for its fleet. As part of the collaboration, Ford will jointly market GE's alternative fuel infrastructure solutions to commercial customers and provide new alternative fuel vehicles for use at GE's Vehicle Innovation Center.

The two companies will also collaborate with researchers from the Georgia Institute of Technology on data collection and analysis on GE's fleet in order to add even greater efficiencies to electric driving and charging.

For GE, the purchase of the 2,000 Ford C-MAX Energi vehicles is another step in the company's commitment to converting half of its global fleet to alternative fuel vehicles as part of its commitment to ecomagination. The addition of the Ford vehicles brings the number of alternative fuel vehicles in GE's fleet to more than 5,000 toward its goal of 25,000 vehicles. To date, GE employees have driven approximately 18 million miles in the company's alternative fuel vehicles, saving about $2 million in gasoline costs and reducing CO2 emissions by approximately 12 million pounds.

Mark Vachon, GE Vice President of ecomagination, said, "We are focused on providing our customers and our fleet with more economically and environmentally efficient vehicles. The Ford C-MAX Energi plug-in hybrid is a great addition to our expanding fleet of alternative fuel vehicles."

The Ford C-MAX Energi plug-in hybrid provides a 21-mile electric-only range, a 108-mpg city EPA rating and a 620-mile single-tank driving range. GE will begin integrating the Ford C-Max Energi into its fleet this month.

"Ford is launching six new electrified vehicles - a big bet that fuel prices will continue rising and lead to more demand for advanced fuel-efficient vehicles," says Ken Czubay, Ford vice president, U.S. Marketing, Sales and Service. "We are pleased to partner with GE, a company that is charting a similar course, to promote advanced technology and energy savings."

As part of the collaboration, Ford will promote GE's WattStation™ charging station and CNG in a Box™ natural gas fueling station with its commercial customers. GE's WattStation is an easy to use electric vehicle (EV) charger that significantly decreases the time needed for vehicle charging. The WattStation uses smart grid technology and comes with an app that helps customers more easily locate vehicle electricity sources. GE's ecomagination qualified CNG In A Box™ is a fully-integrated CNG fueling supply system offering cost-effective plug and play simplicity for fleet and retail fueling stations seeking to offer CNG fuel.

Ford also will supply new alternative fuel vehicles for use at GE's Vehicle Innovation Center at the headquarters of GE's fleet management business in Eden Prairie, Minn. The Vehicle Innovation Center gives GE's commercial customers the opportunity to learn about and test drive alternative fuel cars and trucks in a single location with assistance from GE's fleet, transportation, energy and advanced technology experts. Ford already has placed its pure electric Focus at the center.

The two companies will also work with researchers at Georgia Tech to study GE employee driving and charging habits, with the goal of improving all-electric driving and charging performance. Researchers will use Ford's MyFord Mobile app - with real-time battery charge status and "value charging" that automatically recharges at lower cost, off-peak electricity rates.

"Understanding driving and charging habits is key to advancing vehicle and charging infrastructure," says Professor Bert Bras of the Sustainable Design & Manufacturing laboratory at Georgia Tech. "Through access to vehicle data, we can accelerate research and development of new technologies to further improve efficiency, driver satisfaction and environmental benefits."

Study findings will be shared with commercial customers to provide insights and help facilitate the deployment of electric vehicles in their own fleets amid a growing EV infrastructure that now includes more than 10,000 public charging stations across the country.

Ecomagination is GE's commitment to providing innovative solutions that maximize resources, drive economic performance and help make the world work better.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

About Ford Motor Company

Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 168,000 employees and about 65 plants worldwide, the company's automotive brands include Ford and Lincoln. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford and its products worldwide, please visit http://corporate.ford.com.

About Georgia Institute of Technology

The Georgia Institute of Technology is one of the world's premier research universities. Ranked seventh among U.S. News & World Report's top public universities, the Institute enrolls 21,000 students within its six colleges. Georgia Tech is the nation's leading producer of engineers as well as a leading producer of female and minority engineering Ph.D. graduates. Holding more than 780 patents and receiving approximately $570 million in sponsored awards, Georgia Tech ranks among the nation's top ten universities (without a medical school) in research expenditures.www.gatech.edu for more information.

Lindsay Lorraine
GE
+1 347 712 0424(mobile)
lindsay.lorraine@ge.com

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GENERAL ELECTRIC COMPANY
11:17a GENERAL ELECTRIC : GE Motors Plant may be bought this spring
10:28a GENERAL ELECTRIC : GE-First use of HA technology in aluminum smelters world-wide
09:37a GENERAL ELECTRIC : TransNamib buys new locomotives
07:51aDJALSTOM : Sales Growth Slows
01/16 GENERAL ELECTRIC : Meet the 2017 Zayed Future Energy Prize winners
01/16 GENERAL ELECTRIC : FG plans rail, road link for Jos dry port
01/16 ENI : UK export agency signs first loan deal in Africa for Ghana energy project
01/16 GENERAL ELECTRIC : Bahrain's Alba Places Order for GE's World-Record-Setting HA ..
01/16 GENERAL ELECTRIC : Bahrain’s Alba Places Order for GE’s World-Record..
01/16 TRANSPORT : FG plans rail, road link to Jos ICD 
More news
Sector news : Industrial Conglomerates
12:59p HSBC : China unveils new plan to further open economy to foreign investment
11:37aDJDOW CHEMICAL : DuPont Merger Probe Hinges on Innovation Concerns
07:03aDJAYALA : KTM AG Motorcycle Partnership Gets Tax Perks
01/13 Centrica completes exit from wind power with Lincs wind farm sale
01/13 KKR to buy Hitachi's power tools unit for $1.3 billion
More sector news : Industrial Conglomerates
News from SeekingAlpha
01/16 Game Plan For The Week - Cramer's Mad Money (1/13/17)
01/16 General Electric's Q4 2016 Earnings Preview, The 3 Things To Watch For
01/13 Pentair, Roper upgraded at J.P. Morgan on Trump effect; GE a "top avoid"
01/13 UNITED TECHNOLOGIES : Muddy Short-Term Future, Long-Term Promise
01/13 GENERAL ELECTRIC : Strap Yourselves In, It's Going To Be A Wild Ride
Advertisement
Financials ($)
Sales 2016 124 262 M
EBIT 2016 18 728 M
Net income 2016 12 511 M
Debt 2016 79 625 M
Yield 2016 3,00%
P/E ratio 2016 26,80
P/E ratio 2017 20,21
EV / Sales 2016 2,87x
EV / Sales 2017 2,42x
Capitalization 277 423 M
More Financials
Chart GENERAL ELECTRIC COMPANY
Duration : Period :
General Electric Company Technical Analysis Chart | GE | US3696041033 | 4-Traders
Full-screen chart
Technical analysis trends GENERAL ELECTRIC ...
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 34,3 $
Spread / Average Target 9,3%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Jeffrey R. Immelt Chairman & Chief Executive Officer
Shane Fitzsimons Senior Vice President-Global Operations
Jeffrey S. Bornstein Chief Financial Officer & Senior Vice President
Jim Fowler Chief Information Officer
Victor Abate Chief Technology Officer & Senior Vice President
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
GENERAL ELECTRIC COMPA..-0.76%277 423
3M CO-0.66%106 694
SIEMENS AG-0.51%105 226
HONEYWELL INTERNATIONA..1.92%89 984
E I DU PONT DE NEMOURS..0.27%63 984
ILLINOIS TOOL WORKS IN..0.76%43 310
More Results