The Bad PlaceFeed: All Latest | After Struggling With EVs, US Automakers Pivot to Energy by Aarian Marshall
AI generated summary, Read the full article for complete information.
After recent setbacks with electric‑vehicle programs, major U.S. automakers such as Ford and General Motors are shifting focus toward battery‑energy‑storage systems (BESS) rather than EV production, a move driven by the growing demand for power in AI‑heavy data centers and continued federal incentives for commercial storage. Ford announced a spin‑off, Ford Energy, which will repurpose idle EV‑battery lines to supply BESS to utilities, industry and data centers, spurring a 13 % rise in its stock; GM, Stellantis and Tesla have taken similar steps, converting EV battery plants to storage and partnering with firms like Redwood Materials, LG Energy Solution and Samsung SDI. Analysts see high‑margin opportunities in storage, especially as AI expands the need for reliable, grid‑balancing power, positioning traditional carmakers as emerging energy providers while they retreat from costly EV rollouts.
Read more: https://www.wired.com/story/after-struggling-with-evs-us-automakers-pivot-to-energy/
