Jun 23, 2021
Program includes current offerings that can help expand access to renewable energy for GM’s customers and suppliers in Texas, and free renewable energy charging hours for GM’s EV owners in the coming months.
Detroit — General Motors and Shell, through its wholly owned subsidiary MP2 Energy, LLC (“Shell”) are collaborating to provide comprehensive energy solutions programs to GM’s customers and supply chain partners, including fixed-rate home energy plans backed by 100 percent renewable energy resources. This program is currently available for eligible owners of Chevrolet, Buick, GMC and Cadillac vehicles in Texas. Coming this summer, owners of eligible electric vehicles from GM brands will have the opportunity to select home energy plans that include the option for free overnight hours of EV charging1.
This month, the companies will also begin providing GM suppliers access to a tailored suite of renewable energy products to assist in setting and achieving their individual emissions reduction goals. Employees of participating GM suppliers will be eligible for the home energy plans mentioned above.
Both GM and Shell have recently announced ambitious goals to address emissions.
GM plans to be carbon neutral in global products and operations by 2040 and has committed to science-based targets that align with the most ambitious goals of the Paris Agreement.
“Addressing climate change requires incredible scale,” said Kristen Siemen, chief sustainability officer, General Motors. “At GM, we’re committed to helping bring everybody in on a more sustainable future.”
Shell’s target is to become a net-zero emissions energy business by 2050, in step with society's progress in achieving the goals of the UN Paris Agreement on climate change. This target includes emissions not only from the energy Shell produces and processes, but also from all the energy products it sells to its customers.
“Shell is working across many sectors to help address greenhouse gas emissions and to serve as a partner for change,” said Glenn Wright, vice president of Renewables and Energy Solutions, Shell. “We see opportunities amidst the challenges of the energy transition, and we are excited to work with GM to provide options for consumers and businesses focused on their emissions impact.”
GM and Shell expect to expand the residential and EV offerings across U.S. markets in the future.
GENERAL MOTORS (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.
Royal Dutch Shell plc, incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses that include renewable energy projects. For further information, visit www.shell.com.
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this press release “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Royal Dutch Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this press release refer to entities over which Royal Dutch Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.
Shell’s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, Shell’s operating plans, outlooks, budgets and pricing assumptions do not reflect our net-zero emissions target. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans, outlooks, budgets and pricing assumptions to reflect this movement.
This press release contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this press release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Royal Dutch Shell’s Form 20-F for the year ended December 31, 2020 (available at www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this press release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this press release, [June 23, 2021]. Neither Royal Dutch Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release.
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GM Forward-Looking Statement
This press release and related comments by management may also include “forward-looking statements” relating to General Motors within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent GM’s current judgement about possible future events and are often identified by words such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,” “plan,” “potential,” “priorities,” “project,” “pursue,” “seek,” “should,” “target,” “when,” “will,” “would,” or the negative of any of those words or similar expressions. In making these statements, GM relies upon assumptions and analysis based on its experience and perception of historical trends, current conditions, and expected future developments, as well as other factors it considers appropriate under the circumstances. GM believes these judgements are reasonable, but these statements are not guarantees of any future events or financial results, and GM’s actual results may differ materially due to a variety of factors, many of which are described in its most recent Annual Report on Form 10-K and its other filings with the U.S. Securities and Exchange Commission. GM cautions readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and GM undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where it is expressly required to do so by law.
1 Owners of eligible Chevrolet electric vehicles (EV) will have the opportunity to schedule their EV to charge during the free overnight hours, from midnight to 5 a.m.