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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

GM Will Start Selling Folding, Electric Bikes in 2019

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Emily Gillespie
Emily Gillespie
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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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