GM Unveils New Business Unit Called 'GM Energy' - Offers Storage & Management Services - General Motors (NYSE:GM)

General Motors Co GM has introduced the "GM Energy" unit, which will consist of Ultium Home, Ultium Commercial and Ultium Charge 360, expanding business prospects to include energy management services and drive growth beyond the core vehicle portfolio.
GM Energy's offerings are designed to provide cohesive energy management for home, commercial, and EV customers.
The solutions range 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, and hydrogen fuel cells.
GM Energy's solutions are designed to provide customers with seamless and integrated energy management and help improve grid resiliency.
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GM noted that a growing number of large-scale companies across the U.S. have already signed on to receive energy solutions through GM Energy's portfolio of products and services as well as collaborate to pilot and develop expanded offerings through the energy ecosystem.
"The massive scale of GM Energy's solutions will allow us to better address current challenges with grid infrastructure, energy storage and energy management head on," said Mark Bole, VP and Head of V2X Battery Solutions at GM.
Price Action: GM shares are trading lower by 0.90% at $32.00 in premarket on the last check Tuesday.
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GM Unveils New Business Unit Called 'GM Energy' - Offers Storage & Management Services