General Motors (GM) intends to take on Tesla's solar Powerwall business after announcing that it will release its own solar power and storage system beginning in the latter part of next year, according to a report by Bloomberg.
The business said in a statement that a new business unit named GM Energy is collaborating with SunPower to offer solar panels and in-home energy storage for residential and commercial users.
Bloomberg noted that this venture is comparable to Tesla's energy business, in which automaker-built panels charge a battery that provides houses with electricity during blackouts or at night.
The home energy system will be offered with GM's electrified Chevrolet Silverado, which is anticipated to go into production next year.
A General Motors sign is seen during an event on January 25, 2022 in Lansing, Michigan. - General Motors will create 4,000 new jobs and retaining 1,000, and significantly increasing battery cell and electric truck manufacturing capacity. This is the single largest investment announcement in GM history. The investment includes construction of a new Ultium Cells battery cell plant in Lansing and the conversion of GM's assembly plant in Orion Township, Michigan for production of the Chevrolet Silverado EV and the electric GMC Sierra, GM's second assembly plant scheduled to build full-size electric pickups.
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GM Enters the Energy Sector
This new business venture allows GM to enter the energy storage sector and gives electric vehicle owners a more inexpensive way to charge their vehicles.
As part of the program, GM is also striking agreements with utilities to let owners of its electric vehicles (EVs) utilize their cars' batteries to power their homes in the event of a blackout.
The service will begin the following year as part of a test project between GM, and PG&E. Ford Motor's F-150 Lightning pickup offers a comparable capability, as per Bloomberg.
Travis Hester, vice president of GM EV growth operations, emphasized there has never been a more crucial time for the stability of the American electrical power grid.
"Sustainable energy solutions and services that can assist reduce the impact of power outages and give clients with resilient and cost-effective energy management," Hester said in a statement.
According to the company, GM is collaborating with Consolidated Edison and New Hampshire Electric Cooperative to establish similar pilot initiatives.
The business reported a 25% increase in solar deployments in the second quarter. According to analyst Wood MacKenzie, GM's partner SunPower is the country's fifth-largest solar provider after Tesla at number 4.
Sam Abuelsamid, the principal research analyst at Guidehouse Insights, told Bloomberg that more businesses would be competing to provide power solutions, particularly solar, for use in homes and commercial fleets as some US regions experience an increase in blackouts.
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Written by Joaquin Victor Tacla
