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Press Release

Electrification Coalition, GE Capital Fleet Services Collaborate on Fleet Electrification Roadmap

November 15, 2010

Whitepaper comes on the heels of GE's announcement to convert half its fleet to electric vehicles, help customers transform their own fleets, and open EV customer experience centersv

Eden Prairie, Minn. - November 15, 2010- The Electrification Coalition today announced the release of the Fleet Electrification Roadmap, a groundbreaking new whitepaper on fleet electrification in the United States that makes use of the technical domain expertise of GE Capital Fleet Services in its analysis, findings, and recommendations.

The whitepaper provides a comprehensive analysis of the benefits and challenges of electric vehicle deployment and the policies necessary to accelerate conversion of the 16 million commercial, corporate, and government fleet vehicles on the road in the United States. The study, available at www.electrificationcoalition.org, also assesses the potential impact of fleet electrification on transportation, energy security, and sustainability.

Debora Frodl, Chief Strategy Officer for GE Capital Fleet Services, said: "We are committed to leading the way in helping our industry understand the impact that electric vehicles will have on business, on the environment, and on energy independence. Our partnership with the Electrification Coalition on this important whitepaper will help move the discussion about electric vehicles from anticipation to action."

Last week, as part of GE's ecomagination business strategy to accelerate the development and deployment of clean energy technology through innovation and R&D investment, the company announced the largest single electric vehicle purchase commitment of 25,000 vehicles by 2015.  GE also launched an electric vehicle readiness toolkit on www.ecomagination.com to help municipalities, customers, and individuals prepare for wide-scale electric vehicle deployment.

The Fleet Electrification Roadmap provides rigorous analysis and insights on electric vehicle deployment from experts in the electric vehicle and fleet management industries. The study identifies opportunities for electric vehicle deployment based on commercial fleet requirements and includes findings on total cost of ownership, lifecycle costs, infrastructure logistics, charging behavior, maintenance and repairs, electricity costs, emerging business models, case studies, and policy recommendations. Fleet management experts from GE Capital Fleet Services collaborated with the Electrification Coalition throughout the development of the study.

"This report and its findings come at the right time for the electric vehicle industry,"  Robbie Diamond, President and CEO of the Electrification Coalition, said.  "Fleet purchases like the one GE announced just last week can help drive critical scale in manufacturing that will ultimately help drive down costs for the entire electric vehicle market.  Fleet adoption is a major step toward overcoming challenges to widespread consumer acceptance of electric vehicles, which is the critical measure of electrification's success in ending our nation's dangerous dependence on petroleum."

The Electrification Coalition is a nonpartisan, not-for-profit group of business leaders committed to promoting policies and actions that facilitate the development of electric vehicles. The objective of the Coalition is to combat the economic, environmental, and national security dangers caused by the United States' dependence on petroleum. Through the use of public policy and research, the Coalition seeks to educate key stakeholders, opinion leaders and the public about vehicle electrification.

About GE's ecomagination
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, more than 90 ecomagination-approved 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. As part of the initiative, GE launched the "GE ecomagination Challenge: Powering the Grid", a $200 million financial commitment challenging innovators to join in building the next-generation power grid. For more information, visit the ecomagination website at www.ge.ecomagination.com.

About GE Capital, Fleet Services

GE Capital, Fleet Services, based in Eden Prairie, Minn., is a global fleet management company with operations in the United States, Canada, Europe, Japan, Australia and New Zealand. Visit the Web site at gefleet.com follow the company's eco news and updates via Twitter (@GEFleetSvcs)

GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit www.ge.com

 

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Ned Reynolds
GE Capital
[email protected]
+1 203 2295717
+1 203 8370699


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