Mike Colias of The Wall Street Journal reports on GM’s new energy business.
- GM is starting an energy business called GM Energy which will sell power-storage units to homes and commercial businesses.
- GM Energy will help consumers transfer energy from an EV battery or storage box to a home or building in the event of a power outage or blackout.
- The company has also developed a software that will allow consumers to sell electricity from a GM EV or storage box to utility companies during high demand hours.
“Other auto makers also have moved to leverage their experience developing battery-powered cars to delve into the energy space. Tesla Inc. operates an energy-storage business, which generated $866 million in revenue during the second quarter. Toyota Motor Corp. in June began sales in Japan of a battery-storage system for residential use.”
Read the full article here.
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