This makes me very happy! A once-great manufacturing company building a new business based on new technology! YAY!
by Mike Colias, The Wall Street Journal, 10/11/2022
General Motors Co. GM 1.05%▲ is starting an energy business to sell power-storage units and services to homeowners and commercial clients, an offshoot of the auto maker’s battery-development work for electric vehicles.
GM said the new division, called GM Energy, will help customers transfer electricity from an EV or battery-storage box to a home or building, as a way to protect against power outages and transfer electricity to the grid during off-peak times.
For instance, for customers who have bought EVs, GM will offer a special charger to enable the vehicle to power the home during an outage. It will also sell large, stand-alone batteries to commercial customers to store and manage power… [end quote]
That is very cool. It will only be a small fraction of GM’s sales, but who knows how it could grow in the future? Perhaps the battery could be recharged with solar panels?
Tesla and Toyota are already active in this market.