GE Invests in Future of Electric Cars

General Electric will invest $24 million in two initiatives to bolster hybrid and electric car technology. The first is a $4 million commitment to Think, the Norwegian electric car maker formerly owned by Ford, to assist in the development of future products. “We see many important opportunities emerging from our new relationship with GE,” said Jan-Olaf Willums, CEO of Think. “This relationship will help Think, the manufacturer of the first highway-approved electric car in mass production, to stay at the forefront of electric vehicle technology.”

Think’s latest concept vehicle is the Ox, a five-seater electric car unveiled at the Geneva Motor Show this week. The Ox, approximately the size of a small SUV, promises a range of approximately 125 miles and a top speed of about 85 miles an hour. Production dates and price for the Ox concept have not been announced. Willums hinted that a production vehicle similar to the Ox could be ready as soon as 2011.

GE’s larger investment of $20 million is aimed to support battery-maker A123 Systems. The company, based in Watertown, Mass, is developing high-energy lithium ion batteries to power future hybrids, plug-in hybrids and electric vehicles. A123 is one of several companies supplying batteries to Think.

Kevin Walsh, managing director at GE Energy Financial Services, said, “Our work with A123 and Think taps GE’s unique combination of venture capital, engineering, process and commercial expertise to help burgeoning, next-generation technology companies bring their innovative products to market.”

More Hybrid News...

  • Bert
  • Ronald Barr

    Dear sir.

    I have a Patent Pending that was intended for hybrid, electric cars.
    The first involves a new technology using a fly wheel, this concept offers a variety of functions.

    The second part of the patent is a new concept for a differential, this also has features that reduce fuel consumption, self propulsion that may maintain the speed of the vehicle for a period of time with out the need for for gas or electric power.

    If you could offer contact information to whom I may contact about this I would be grateful.

    Thanking you in advance.

    Ron Barr

  • uktiger

    WOW! GE invests $24 million? Starting with $4 million? The cost of the press release is probably $4 million. This is not serious.

  • Travis Austin

    Not. Enough. At all.

    This is a total joke. Their entire infrastructure needs to change, and change now. This is throwing pennies in relative terms. What absolute crap.

  • Jeff


    I took a look at the Hybridtechnologies web site. Looks like they are offering an all electric Yaris for ~$34,000. Worth looking at but quite pricey. I would have to do the math. It would easily pay for itself if I were driving something other than a Prius right now.

    They look like a very young company.

  • Jack Huckabee

    No, you are right. It is not enough. But look at it this way: They could have given nothing. General Electric only has so much money dedicated to donation. While that my be a hugh amount, it is spread over countless destinations. The amount each receives is dependent on the priority that GE sees fit to assign the individual recipients. They must have not been seen a a huge priority. Sucks for them, but it is the way of things. The technology will come. Don’t worry.
    Jack Huckabee

  • omegaman66

    How dare they only contribute a few million. I say we put them all in jail. Oh by the way how much have you donated Jim? GM isn’t even a company that makes batteries and you thump them for donating a few mill???

  • AlexK

    for GE a few million is not much money, they operate with billions

  • Anthony Narváez

    Why not prove it?
    The rand max technology in cars could be better and economic.

  • GR

    This is the equivalent of someone making 100k per year putting $1 in the church offering.

  • Melvin Scott

    Oh I just love the car. It has a nice body color and body kits. A new rims will look much better on this ride. I saw some perfect rims at Autopartswarehouse.

  • khooper

    General Motors a few years back had a feasible electric vehicle. Badged under the saturn nameplate, it was called the EV1.I would like to see GE examine the EV1 and develop a product the would be an improvement on it. I have read a blog from that there is certainly a market for these vehicles. Let’s hope that “Big Oil” and the auto parts industry doesn’t undermine GE’s efforts.

  • promo codes

    Electric car is getting popularity day by day that’s why it could be a potential investment for the future
    promo codes