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GM’s EV business unit to supply 5,400 additional vans to merchant fleet

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo

Nov. 18 (Reuters) – BrightDrop of General Motors Co (GM.N) said on Thursday that car rental company Merchants Fleet plans to order an additional 5,400 of its delivery vans to boost the nascent electric utility vehicle business from the largest American automaker.

GM unveiled BrightDrop in January in an effort to capture some of the growing electric delivery vehicle business to better compete with rival Ford Motor Co (FN) and other companies such as Rivian Automotive Inc ( RIVN.O). Read more

GM has laid out plans to double its revenue by 2030 and become the sales leader for electric vehicles in the United States. Read more

Merchants Fleet’s order would bring the total number of BrightDrop electric vehicles to 18,000. Of the total, 12,600 orders, announced in February, are for BrightDrop’s full-size delivery van EV600 and the remaining 5,400 are for its midsize van. EV410.

The EV410, which was unveiled in September and offers a range of 250 miles (400 km) between charges, has already taken Verizon Communications Inc (VZ.N) as a customer. Read more

US President Joe Biden and his fellow Democrats in Congress have offered nearly $ 50 billion in tax breaks, incentives for government agencies to buy electric vehicles, and loans for factory retooling, which could give a new boost. impetus to electric vehicle projects from automobile manufacturers. Read more

Not to mention billions in new subsidies to boost sales of electric vehicles, such as a 30% tax credit for electric utility vehicles.

Our Standards: Thomson Reuters Trust Principles.

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