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Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

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Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

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The stock market is about to suffer a 'snapback' and will lose much of this year's gains as 'speculation is hitting extreme levels,' BofA warns

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Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

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Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

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The stock market is about to suffer a 'snapback' and will lose much of this year's gains as 'speculation is hitting extreme levels,' BofA warns

GM Will Start Selling Folding, Electric Bikes in 2019

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Emily Gillespie
Emily Gillespie
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By
Emily Gillespie
Emily Gillespie
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November 2, 2018, 6:03 PM ET
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General Motors introduced two models of electric bikes that will go on sale in 2019 on Friday.

The bikes, one foldable and one compact, are designed for urban commuting. The electric assist will help commuters bike to work without building up a sweat or leaving them feeling like they need to shower.

“We blended electrification engineering know-how, design talents and automotive-grade testing with great minds from the bike industry to create our eBikes,” Hannah Parish, director of General Motors Urban Mobility Solutions said in a press release.

The e-bikes are part of GM’s goals to reduce and eventually eliminate carbon emissions.

The Detroit-based automaker has been making and selling vehicles for more than 100 years, but most of GM’s vehicles run on gas. In recent years, the company has stepped up its drive to produce electric vehicles and go after government assistance that will help them in those efforts. The company said it is planning to present a National Zero Emissions Vehicle program to the U.S. government that would put 7 million long-range electric vehicles on the road and eliminate 375 million tons of CO2 emissions by 2030.

GM is rolling out its zero-emission programs as consumers embrace alternatives to car ownership, such as ride-sharing and car-sharing. GM reported a $3.9 billion dollar loss in 2017.

The company touts the e-bikes as being “innovative, integrated and connected,” though didn’t release more details, such as pricing.

But the company is trying to drive interest in the products by asking the public for help in naming the electric bikes. An online suggestion box is open, with a $10,000 prize for the naming competition winner as well as $1,000 each for nine runners up.

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