General Motors (GM) is launching its own energy storage company, employing Ultium battery packs to power homes, charge automobiles, and feed electricity back into the grid as needed.
The new GM Energy business segment will include the Ultium Home, Ultium Commercial, and Ultium Charge 360 businesses.
Ultium Home and Ultium Commercial, as the names suggest, will provide energy storage for houses and companies, respectively.
GM’s existing electric car charging software tool, Ultium Charge 360, allows drivers to locate public chargers for their vehicles.
According to GM’s statement, GM Energy will also be active in hydrogen fuel cells and solar energy products.
Key Takeaway
• Ultium Home, Ultium Commercial, and Ultium Charge 360 will be part of GM Energy, extending business potential to encompass energy management services and driving development outside the core vehicle portfolio.
• General Motors Energy’s solutions are intended to give consumers more seamless and integrated energy management while also contributing to improved grid resiliency.
• A rising number of large-scale businesses in the United States have already agreed to receive energy solutions through GM Energy’s portfolio of goods and services, as well as engage with GM to test and create additional offerings through the energy ecosystem.
General Motors News
Transportation necessitates a comprehensive ecosystem that includes road infrastructure, fuel production and distribution, raw materials, recycling, traffic control, and automobiles.
To successfully transition from our century-old petroleum-fueled environment to one that operates on electrons, we will need to modernize the entire ecosystem, not just battery-powered vehicles and trucks.
General Motors is launching a new business unit named GM Energy to address additional elements of the ecosystem.
GM’s residential and business battery packs will employ the same type of batteries as those used in the automaker’s electric cars, similar to how Tesla (TSLA) develops its Powerwall and Powerpack products.
They will be placed in big stationary packs to store energy, reducing the requirement for electricity during peak demand periods.
They can also offer electricity during outages and even transmit power back to the electrical grid to help when power requirements exceed what the utility can give on its own.
In most cases, the sums transferred back to the grid will be reimbursed to the owner’s power bill.
Tesla has leveraged its energy storage devices to build what it calls Virtual Power Plants, which may, in principle, minimize the need for utilities to switch on extra power producers during peak demand.
Ultium Home, a branch of GM Energy, will provide power-storage wall boxes for residential usage.
The new GM subsidiary will also provide software and equipment for using electric vehicles as energy storage devices, which, when parked and plugged in, may give electricity to home during brief power outages.
Starting in 2023, GM Energy will collaborate with California’s Pacific Gas and Electric on a pilot program to test the idea of using GM electric vehicles, according to the release.
The Chevrolet Silverado EV truck will be the first car from GM to support bi-directional charging, but more will follow.
Other manufacturers are also working on bi-directional charging, which will allow electric vehicles to function as temporary power buffers for households.
According to Ford Motor Company, several Ford F-150 customers utilized their vehicle’s Pro Power Onboard feature, which is available on both electric and gas-powered versions of the truck, to power their houses after Hurricane Ian slammed Florida.
According to GM’s release, GM Energy is also collaborating with numerous large power firms.
According to GM, the new business is also collaborating with solar energy supplier SunPower, which will install solar panels on clients’ houses.
According to Mark Bole, GM Energy’s head of V2X and battery solutions, all of these systems will be managed by software programs that will be launched at the end of 2023.
Vehicle-to-home and vehicle-to-grid electricity transfers are referred to as V2X.
According to GM, one overarching purpose of the subsidiary is to assist assuage worries about potential stresses on power infrastructure around the country caused by electric vehicles.
Power storage capabilities might assist alleviate strain on electricity systems by allowing vehicles to charge using power stored during low-demand periods.
Having automobiles function as power storage might also help alleviate concerns about short-term power outages and blackouts.
The software can also assist electric car owners in coordinating their charging activities to minimize significant spikes in demand.
“We view EVs as part of the answer,” Bole stated.
GM Introduces an Energy Ecosystem Based on the Ultium EV Platform
For home and commercial EV owners, the newly established GM Energy seeks to ease bidirectional charging, permanent battery storage, and solar electricity.
The Chevy Silverado EV 2024 will be the first car to use GM Energy bidirectional charging hardware.
GM Energy, a new business entity comprised of the recently announced Ultium Home and Ultium Commercial ecosystems, as well as the current Ultium Charge 360 public charging infrastructure, was unveiled today by General Motors.
By combining stationary energy storage, household solar power, and battery electric cars, GM Energy will investigate a “holistic approach” to home and business energy management.
Ultium Home focuses on domestic energy and is designed to use the enormous batteries found in electric vehicles using vehicle-to-home, or V2H, technology.
For example, a parked V2H-capable EV might offer electricity to a home during a power outage or peak rate hours when grid power is the most expensive.
GM Energy will collaborate to develop and market charging hardware for vehicles that handle bidirectional power.
GM Energy will also sell stationary house batteries, similar to Tesla’s Powerwall, through Ultium Home, which will interface with car charging hardware and residential solar power.
SunPower has been named the preferred installer for solar panels and the modular Ultium Home energy system, which will be available in late 2023 alongside the launch of the 2024 Silverado EV, the first Ultium platform EV to offer bidirectional charging.
The GM Energy Services Cloud is the software brains that promise to make batteries, chargers, solar panels, and other hardware work well together.
This energy management system determines how electricity is stored and used, such as ensuring there is enough juice in the vehicle’s battery for an upcoming trip, drawing energy from the EV or stationary storage to save money when grid rates are highest, or selling excess power back to the larger grid if local utilities support vehicle-to-grid functionality.
GM claims that its modular approach will expand to whatever combination of hardware the user selects, while its software will improve household and grid power resiliency while simplifying everyday management.
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GM Energy Ecosystem – 2024 Chevy Silverado EV WT is ready to put to work
Ultium Commercial employs the same procedures and technology as Ultium Home does, but on a bigger scale for enterprises and fleets.
This includes bigger stationary batteries that can collect or distribute more energy, more sophisticated cloud administration of numerous cars, the construction and management of microgrids, integration with other energy storage systems (such as hydrogen fuel cells), and other innovations.
The third GM Energy pillar, Ultium Charge 360, is not altering much.
GM’s public charging network will continue to develop, with new services and goods added to its Charge 360 smartphone app over time.
GM Energy has announced a collaboration with California’s Pacific Gas & Electric Company to test bidirectional charging in the lab, followed by a pilot operation with a subset of residential consumers beginning in 2023.
(Ford, the rival carmaker, is also testing electric trucks with PG&E.)
GM is also working with and exploring new relationships with utilities and organizations like Con Edison, Graniterock, and New Hampshire Energy Cooperative.
General Motor New Energy to Help Customers
Customers will be able to control their energy needs thanks to General Motors’ new energy ecosystem, which will also help mitigate the effects of power outages.
The connected product and service offerings from GM Energy are designed to provide cohesive energy management for home, commercial, and EV customers, with solutions ranging from bi-directional charging, vehicle-to-home (V2H), and vehicle-to-grid (V2G) applications, to stationary storage, solar products, software applications, cloud management tools, microgrid solutions, hydrogen fuel cells, and more.
The services provided by GM Energy will also enable the selling of energy from EV and stationary storage batteries back to utilities during peak, high energy usage periods, unlocking even more potential value for customers and boosting system resiliency.
“The dependability of the United States electrical power system has never been more critical,” said Travis Hester, vice president of GM EV Growth Operations.
“GM Energy has the chance to contribute to the delivery of sustainable energy products and services that can help lessen the impact of power outages and give clients robust and cost-effective energy management,” says the company.
The GM Energy Services Cloud, which will hold data and energy management tools, will serve as the core interface for GM Energy’s solutions, seamlessly linking clients with the residential, fleet, and commercial energy assets.
Customers will be able to manage their energy use more easily and effectively thanks to GM’s energy management tools.
GM has already registered EV consumers in controlled charging schemes with different utilities across four U.S. states and is expanding. Several prominent corporations in the United States have already committed to collaborating with GM Energy to give energy solutions to consumers and obtain product or service offerings.
Among these is a partnership with SunPower, one of the nation’s top producers of solar technology and energy services.
The two firms will create and sell a home energy system that includes integrated EV and battery solutions, solar panels, and home energy storage.
A key element of the home energy system is that drivers will be able to transfer electricity to their houses using the batteries in their compatible electric car, allowing them to power their home’s demands during a blackout or draw on stored energy during high rate periods.
SunPower will also become a preferred installer for residential energy systems and will provide clients with the option of adding solar to their houses.
The home energy system will be accessible at the same time as the retail introduction of the 2024 Chevrolet Silverado EV, which is set to begin manufacturing in autumn 2023.
Another endeavor is a V2H pilot project planned by GM Energy and Pacific Gas and Electric Company (PG&E) to let residential customers utilize compatible EVs and a bi-directional charger as backup power for important household requirements during short-term power outages.
Following early lab testing, the two businesses plan to expand the V2H offer to a subset of residential customers within PG&E’s service region, beginning in 2023.
GM Energy also collaborates with several other firms, including Con Edison, Graniterock, and New Hampshire Electric Cooperative (NHEC), to bring energy solutions to clients while also informing and advancing future GM Energy services.
“GM Energy aims to provide clients with access to a comprehensive spectrum of energy goods and services, including solutions outside the car, expediting the smooth transition to an all-electric future,” Hester explained.
“We will assist to lower the barriers to entry for sustainable electricity and expedite the mainstream adoption of EVs by expanding our enterprise business through GM Energy and offering one of the most complete portfolios of energy management solutions and services available.”
Ultium Charge 360, as part of GM Energy, will gradually extend its existing range of integrated public charging networks, integrated mobile apps, and other product and service offerings.
“The huge scale of General Motors Energy’s solutions will allow us to better address existing grid infrastructure, energy storage, and energy management concerns front on,” says Mark Bole, vice president and Head of V2X Battery Solutions at GM. “By using GM’s flexible technology platforms and the power of Ultium, we’re able to deliver robust and accessible energy solutions for all consumers and the grid, advancing the all-electric future.”
General Motors Overview
The General Motors Company] (GM) is an American multinational automobile manufacturer headquartered in Detroit, Michigan.
It is the largest carmaker in the United States and held the world’s greatest position for 77 years before losing it to Toyota in 2008.
General Motors has manufacturing units in eight different nations.
Chevrolet, Buick, GMC, and Cadillac are its four primary automotive brands.
It also has joint venture stakes in Chinese companies Wuling Motors and Baojun, as well as DMAX.
GM also owns the BrightDrop delivery vehicle manufacturer, a named Defense vehicles division that produces military vehicles for the United States government and military, the vehicle safety, security, and information services provider OnStar, the auto parts company ACDelco, a named financial lending service, and a majority stake in the self-driving car enterprise Cruise LLC.
As part of its strategy to reach carbon neutrality by 2040, GM announced plans in January 2021 to phase out the manufacture and sales of cars powered by internal combustion engines, including hybrids and plug-in hybrids, by 2035.
GM has more flexible-fuel vehicles than any other carmaker, which can run on either E85 ethanol fuel or gasoline, or any combination of the two.
The corporation may be traced back to a Buick holding company founded on September 16, 1908, by William C. Durant, the largest supplier of horse-drawn cars at the time. The present business was formed in 2009 as a result of General Motors’ Chapter 11 restructuring.
GM is placed 22nd on the Fortune 500 list of the top firms in the United States by total revenue.
FAQs
How high will General Motors’ stock go?
Wall Street experts estimate that General Motors Co’s stock price will reach $54.33 by October 10, 2023. The average General Motors Co stock price projection predicts a possible 68.27% increase from the current GM share price of $32.29.
GM Motors Career – Is it hard to get a job at General Motors?
Yes, getting a job at General Motors is difficult.
General Motors has a highly competitive employment procedure, with individuals that have either outstanding academic records or strong career histories. Corporate positions within the corporation are extremely difficult to achieve. Even in its factories, job opportunities are few.
General Motors Stock Price – Is General Motors a buy?
The stock of General Motors is up 8% year to date, which is better than nothing but falls short of the S& P 500’s 20% rise. However, a consensus target price of $47, implying a 30% upside, and a 4.2% yield make GM appear to be an appealing company to purchase now.
How do I contact General Motors customer service directly?
If you prefer to contact us by phone, please dial 1-800-462-8782. Monday through Friday, 8:00 a.m. to 9:00 p.m. (EST), and Saturday, 9:00 a.m. to 6:00 p.m. (Eastern Standard Time).
When did General Motors’ logo change?
This is the company’s fifth logo update. The last time GM updated its logo was in 1964. GM’s new campaign is an attempt to shift gears from producing essentially internal combustion vehicles to delivering a larger range of electric automobiles.
Do General Motors subsidiaries exist?
Chevrolet, Buick, GMC, and Cadillac are its four primary automotive brands. It also has joint venture stakes in Chinese companies Wuling Motors and Baojun, as well as DMAX.
Does General Motors make a car?
GM now manufactures automobiles in 30 countries under ten distinct brands, including Chevrolet, Buick, GMC, and Cadillac.
How many GM dealerships are in the US?
GM operates 1182 sites in the United States, which include 11 assembly factories, 22 stamping, propulsion, component, and battery plants, 19 parts distribution locations, and two engineering campuses. GM also has a number of office sites, including IT centers, call centers, and GM Financial service centers.
General Motors Locations – How many locations do General Motors have?
General Motors is headquartered in Detroit, Michigan, and maintains nine offices around the United States.
