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A Powerful Voice for EVs (4/24/12)

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Tags:

  1. auto show1:45
  2. gas station3:24
  3. electric vehicles0:02, 3:37
  4. General Electric2:34, 2:52
  5. GM1:29
  6. Alan Mulally1:18
  7. Automotive News2:00
  8. Ford Motor Co0:43
  9. Jeffrey Immelt2:35
  10. Jim Press1:49

Tue, 24 Apr 2012|

GE chief's big plug for electric cars | Fitch elevates Ford from 'junk' | Dealers' China chances

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Automatically Generated Transcript (may not be 100% accurate)

For every dollar invested electric vehicles G -- but since its content. So this is a business that makes sense for us over the long term. Power forward in the top US executive on the potential of electric cars. That's next. Thanks for looking in on this Tuesday. I'm -- Snyder here this week for Tom war back. More on electric cars and just a moment first a look at what else is making news. It's not from Standard and Poor's or Moody's but more importantly it's not junk. Fitch ratings issuing an investment grade rating for Ford Motor Co. and its captive finance arm today. Fitch citing Ford's quote significantly. Improved financial performance. It's called the company's outlook stable. But said the auto maker still faces the risk of slower than expected global demand for vehicles particularly. In Europe. The Fitch upgrades as a key step the brings forward closer to reclaiming its blue oval trademark and other assets used in 2006. To secure 23 billion dollars in loans. That action by CEO Alan Mulally credited with helping keep -- afloat as is Detroit rivals went bankrupt. Ford is due to report first quarter earnings on Friday. GM turning to the military to fine tune its diversity efforts. The auto maker naming captain Kenneth. US navy the company's first chief diversity officer. And at the Beijing auto show -- prediction from X Toyota and Chrysler executive Jim Press. He says it's only a matter of time before foreign car dealers tap the world's biggest auto market China. Press speaking at the Automotive News China conference. Since September presses run dealerships in China for McLarty automotive partners. The venture chaired by former White House chief of staff Mack mclarty's. Press says -- is the only US dealer group he's aware of in China. The society of automotive engineers kicked off its annual world congress in -- today. The theme of the three day tech fest get connected. Electric cars on the minds of many of the engineers. A standing room only crowd gathering to hear from General Electric CEO Jeffrey Immelt. Novelties don't work in business you know we don't invest in anything that we think it's a novelty not one thing. We only invest in things that we think can be long term business competitive long term productive. And long term pervasive. General Electric has pledged by 25000. -- use by 2015. 121000. Of these cars will be achieved -- And GE -- PSA he event to launch a connected version of its watt station charger. Immelt said the near term challenge to acceptance of Levys is cost. When I talk about the ability to reuse the battery that's one of the things we can do that hopefully can bring the cost of the battery down. But he said writing and EV and bypassing the gas station feels empowering for consumers. Once stood utility consumer interface gets resolved them and you have more Smart capability in the home. I think there's going to be even more resonance and desire for electric vehicles early in his speech protesters stood to demand that GE pay more in taxes. But Immelt went on to discuss ideas for making US businesses more competitive. And that's our show for today thanks for watching we'll see you back here. Tomorrow.

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