General Motors' New Energy Ecosystem Will Give Customers Control of Their Energy Needs and Help Mitigate Effects of Power Outages
General Motors has launched GM Energy, incorporating Ultium Home, Ultium Commercial, and Ultium Charge 360. This new initiative aims to enhance energy management services for residential, commercial, and EV customers, focusing on grid resiliency. Key partnerships have been established with major companies like SunPower for integrated energy solutions, including solar and battery systems. GM Energy's cloud-based platform will streamline energy consumption and enable customers to sell energy back to utilities, effectively managing peak consumption costs.
- Launch of GM Energy expands business into energy management services.
- Partnerships with large companies like SunPower enhance product offerings.
- GM Energy will allow customers to sell energy back to utilities, increasing value.
- None.
- GM Energy will consist of Ultium Home, Ultium Commercial and Ultium Charge 360, expanding business opportunities to include energy management services and drive growth beyond the core vehicle portfolio
- GM Energy's solutions are designed to provide customers with more seamless and integrated energy management and help improve grid resiliency
- 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, and collaborate with GM to pilot and develop expanded offerings through the energy ecosystem
DETROIT, Oct. 11, 2022 /PRNewswire/ -- General Motors today announced the introduction of Ultium Home and Ultium Commercial, which in combination with the existing Ultium Charge 360, create a holistic ecosystem of energy management products and services that will be housed under a new business unit called GM Energy.
GM Energy's connected product and service offerings are designed to offer 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. 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 reliability of the U.S. electrical power grid has never been more important," said Travis Hester, vice president of GM EV Growth Operations. "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."
The central interface for GM Energy's solutions will be GM's Energy Services Cloud, which will house data and energy management tools, connecting customers seamlessly with residential, fleet and commercial energy assets. Customers will be able to simply and efficiently manage their energy consumption through GM's energy software applications. GM has already enrolled EV customers in managed charging programs through the Energy Services Cloud, with multiple utilities across four U.S. states and growing.
Several large-scale companies across the U.S. have already agreed to work with GM Energy to provide energy solutions to customers and receive product or service offerings.
Among them is an agreement with SunPower, one of the nation's leading solar technology and energy services providers. Together, the two companies will develop and offer customers a home energy system which will consist of integrated EV and battery solutions, solar panels and home energy storage. A primary feature of the home energy system is expected to enable drivers to deliver power to their homes with the battery in their compatible electric vehicle, designed to give them the ability to power their home's necessities in a blackout or draw from stored energy during peak rate times. SunPower will also become a preferred installer for the home energy system and offer customers the opportunity to add solar to their home. The home energy system will be available alongside the retail launch of the 2024 Chevrolet Silverado EV, expected to begin production in fall 2023.
Another initiative includes a V2H pilot project between GM Energy and Pacific Gas and Electric Company (PG&E) planned to enable residential customers to use their compatible EVs along with a bi-directional charger, as backup power for essential home needs during short-term power outages. After initial lab tests, the two companies anticipate expanding the V2H offer to a subset of residential customers within PG&E's service area, expected to begin in 2023.
GM Energy is also working with several other companies such as Con Edison, Graniterock and New Hampshire Electric Cooperative (NHEC) to help deliver energy solutions to customers, while also helping to inform and advance future GM Energy offerings.
"GM Energy's mission is to offer customers access to a full suite of energy products and services, including solutions beyond the vehicle, accelerating the seamless transition to an all-electric future," said Hester. "With the expansion of our enterprise business through GM Energy and one of the most comprehensive portfolios of energy management products and services available, we will help to reduce the barriers of entry for sustainable power and further accelerate the mass adoption of EVs."
As part of GM Energy, Ultium Charge 360 will continue to expand its existing portfolio of integrated public charging networks, integrated mobile apps, and additional product and service offerings over time.
"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," says Mark Bole, vice president and Head of V2X Battery Solutions at GM. "By leveraging GM's flexible technology platforms and the power of Ultium, we're able to provide resilient and accessible energy solutions for all customers and the grid, helping to further advance the all-electric future."
More information about GM Energy and the available offerings through Ultium Home, Ultium Commercial and Ultium Charge 360 are available at https://gmenergy.gm.com/
General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.
Cautionary Note on Forward-Looking Statements: This press release and related comments by management may include "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent our current judgement about possible future events and are often identified by words such as "anticipate," "appears," "approximately," "believe," "continue," "could," "designed," "effect," "estimate," "evaluate," "expect," "forecast," "goal," "initiative," "intend," "may," "objective," "outlook," "plan," "potential," "priorities," "project," "pursue," "seek," "should," "target," "when," "will," "would," or the negative of any of those words or similar expressions. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgements are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law.
View original content:https://www.prnewswire.com/news-releases/general-motors-new-energy-ecosystem-will-give-customers-control-of-their-energy-needs-and-help-mitigate-effects-of-power-outages-301645457.html
SOURCE General Motors Co.
FAQ
What is GM Energy?
What services does GM Energy offer?
Which companies has GM partnered with for energy solutions?
How will GM Energy help customers with power outages?
What is the expected launch date for GM Energy products?
