NEW YORK (AP) -- GE says it will buy 25,000 electric vehicles by 2015 in hopes of sparking demand for the emerging market for which it makes charging stations and other infrastructure.
General Electric Co. will initially purchase 12,000 GM vehicles, beginning with the Chevrolet Volt next year.
By buying the vehicles, GE is helping ramp up production, which should help lower the price of the vehicles. Hybrid gas-electric cars such as the Toyota Prius have become more common on the nation's roads, but electric vehicles have been held back by the high cost and limited battery range.
General Electric is based in Fairfield, Conn. General Motors Co. is based in Detroit.
General Electric Co. will initially purchase 12,000 GM vehicles, beginning with the Chevrolet Volt next year.
By buying the vehicles, GE is helping ramp up production, which should help lower the price of the vehicles. Hybrid gas-electric cars such as the Toyota Prius have become more common on the nation's roads, but electric vehicles have been held back by the high cost and limited battery range.
General Electric is based in Fairfield, Conn. General Motors Co. is based in Detroit.
