GM unveils novel EV entity that could support the grid

Oct. 11 (UPI) -- U.S. vehicle manufacturer General Motors said Tuesday it was launching a new business unit that would offer everything from solar panels to electric vehicle charging stations for homes, as well as connections to the grid.

The company launched a new business line called GM Energy that will offer a laundry list of clean energy options, from solar products to cloud management tools and charging stations.

"GM Energy's services will also enable the sale of energy from EV and stationary storage batteries back to utilities during peak, high energy consumption periods, unlocking even more potential value for customers and increasing resiliency for the electrical grid," the company stated.

The company said it could put excess energy back on the grid through partnerships with local utilities like Pacific Gas and Electric Company, which is already on board.

Travis Hester, the vice president of GM's efforts in the EV business, said that, with rolling blackouts becoming more common for big cities from Texas to California, grid support is more important than ever.

"GM Energy has the opportunity to help deliver sustainable energy products and services that can help mitigate the effect of power outages and provide customers with resilient and cost-effective energy management," he added.

GM is setting up three divisions to help with marketing -- Ultium Commercial, Ultium Home, and Ultium Charge 360 - a reference to its Ultium battery platform. It's also expected to eat into the market share of companies that already have similar product lines, such as Tesla.

Former Tesla executive Jonathan McNeill joined the board of directors at GM last week.

The new energy arm will also support the company's efforts to double revenue to $280 billion by the end of the decade, CNBC reported.

Hester added that said GM Energy is about one thing -- "resiliency."