finance.yahoo.com

GM Pivots Underused EV Battery Capacity to Energy Storage

General Motors logoGeneral Motors
Sig3.15Sen-1.70Env+1.85Soc+1.20Gov+0.25
Ford logoFord
Sig3.60Sen-1.40Env+1.60Soc+0.80Gov0.00

General Motors is pivoting underutilized electric-vehicle battery capacity into battery energy storage systems as U.S. grid demand rises. The shift follows GM cumulative EV-related charges of $10.9 billion and similar Ford write-downs. Storage capacity growth in the U.S. is accelerating, with demand from data centers and infrastructure pushing automakers toward a new revenue model.

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