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GM Looks to Parlay Battery Work Into New Energy Business

Mike Colias of The Wall Street Journal reports on GM’s new energy business.

The C3 Take
  • 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.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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