Common Motors Co. [US:GM] is beginning an vitality enterprise to promote power-storage items and companies to owners and business purchasers, an offshoot of the auto maker’s battery-development work for electrical autos.
GM mentioned the brand new division, known as GM Power, will assist prospects switch electrical energy from an EV or battery-storage field to a house or constructing, as a solution to shield in opposition to energy outages and switch electrical energy to the grid throughout off-peak instances.
As an illustration, for patrons who’ve purchased EVs, GM will provide a particular charger to allow the car to energy the house throughout an outage. It can additionally promote massive, stand-alone batteries to business prospects to retailer and handle energy.
Travis Hester, head of GM’s EV development initiatives, mentioned the corporate sees an opportunity to generate income from its funding in battery expertise past the sale of EVs. He declined to supply a income goal however mentioned executives could define objectives to traders sooner or later.
GM Appears to be like to Parlay Battery Work Into New Power Enterprise https://www.wsj.com/articles/gm-looks-to-parlay-battery-work-into-new-energy-business-11665458446