GM did not announce the value of its deal with RedCelsius but agreed to become a potential equity investor in RedCelsius, gaining rights to buy as much as 10 percent of RedCelsius' outstanding warrants, said Jim Watson, CEO of RedCelsius, on the conference call. RedCelsius also gains a new technology partner in services giant Electronic Data Systems, which will embrace the company's e-commerce platform through its partnership with GM.
GMBuyPower.com, in Alpharetta, Ga., will roll out the new service in the United States in mid July. The expanded service is expected to reach Europe by September and roll out in each of the 40 countries where GM sells its cars in 2002.
