General Motors Co. GM, -3.96% introduced Tuesday a new business unit called GM Energy, which will consist of Ultium Home, Ultium Commercial and Ultium Charge 360 to create an energy management ecosystem. GM Energy will offer to home, commercial and electric vehicle customers services including vehicle-to-home (V2H) and vehicle-to-grid (V2G) applications, stationary storage, solar products and hydrogen fuel cells. The new business will also provide the sale of energy from EV and stationary storage batteries back to utilities during peak energy consumption periods. “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.” GM’s stock, which fell 1.6% in premarket trading, has gained 4.6% over the past three months through Monday, while the S&P 500 SPX, -0.75% has lost 6.3%.
