October 11

GM Is in the Energy Business Now

By Kirsten Korosec

General Motors is launching a new line of energy products to homeowners, businesses and utilities — the next step in an EV offensive designed to generate revenue beyond making and selling electric vehicles and aimed directly at Tesla.

The product line will be housed under a new business unit called GM Energy and covers the gamut of EV ownership, including stationary energy storage, solar through a partnership with SunPower and bi-directional charging technology to deliver power from the vehicle to their home or to the grid. GM Energy has also developed a cloud product that houses data and management software and helps tie all of these hardware products together and, ultimately, balance out the power grid while providing an incentive to EV owners.

The new business unit has also developed large-scale batteries for utilities as well as hydrogen fuel cells, Travis Hester, vice president of GM’s EV growth operations, told TechCrunch in a recent interview.

GM Energy is divided into three sectors covering residential, commercial and charging. Each sector carries the Ultium name, the same branding that GM gave to the next-generation electric vehicle platform and batteries of its new and upcoming EVs.

Photo courtesy of Andrea_44.

Source: TechCrunch (link opens in a new window)

business development, electric vehicles, partnerships