General Motors is creating a new energy business to sell batteries, charging equipment, solar panels, and software to residential and commercial customers in a broad-based effort to create a range of accessories that can help sell its lineup of electric vehicles.
The new division, GM Energy, is also a direct shot at Tesla as a major player in renewable energy generation and storage. GM has said it intends to eventually overtake Elon Musk’s company in vehicles sales — and now it wants to challenge it on the energy front as well.
Travis Hester, GM’s chief EV officer, said the company is making a serious grab for a piece of what is potentially a $120-150 billion market for energy generation and storage products. The aim is to make GM’s brand synonymous with not just electric vehicles, but a whole host of products and services in orbit around EVs and their rechargeable lithium-ion batteries.