General Electric or Green Energy ?
Posted by Srikant Rajan | # |
07:35:13 am on May 4, 2008

General Electric seems to be all set to cash into the green energy sector. In a recent event at San Francisco, Rick Wagoner (CEO) emphasized GE’s commitment towards remedying global warming concerns and discussed GE’s strategy in the coming years. In addition to acquiring cleantech behemoths such as Enron, Astropower, GE is also pursuing research and development of Electric Vehicles (EV’s). Wagoner emphasized GM’s belief of electric vehicles being the "best long-term solution" for addressing society’s energy and environmental concerns. At the top of GE’s product offering in the EV segment is the plug in hybrid – Chevy Volt. Recent tests on the Volt prototype at GE had been very encouraging. Spurred by the recent success GE seems confident that the Volt would be rolled out in the US by the year 2010. Wagoner said that despite GM’s delay in entering the hybrid vehicle segment it would be in the forefront in the coming decade .However it remains to be seen whether it would be able to challenge Toyotas dominance in the hybrid EV segment.

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