American automotive giant General Motors is optimistic about the electric vehicle (EV) market despite some softening in the sector.
GM said it is working to expand its EV portfolio that has helped it grow to become the No. 2 seller of EVs in North America and is on track to build about 200,000 GM-branded EVs this year.
Challenges face EV makers as numerous consumer worries have emerged after automotive OEMs continue to push ahead with the transition to all-electric fleets. These concerns include:
- Lack of EV charging infrastructure
- High prices
- Range anxiety
- Reliability
Recently, data from Pew Research found that due to these issues, only three in 10 Americans are considering purchasing an EV. This is down 9% from a similar study done by Pew in 2023.
Yet with all these issues, GM has expanded its portfolio of EVs including the GMC Hummer EV, Chevrolet Silverado EV and GMC Sierra EV trucks.
Additionally, GM is attempting to ease range anxiety with its expansion of EV infrastructure with plans to up its number of stations in the coming years through deals with EVgo and Pilot Travel Centers; the installation of 40,000 chargers through its Dealer Community Charging Program; and its agreement with Telsa Motors to allow its vehicles to use Tesla’s Supercharger network.
GM Energy has introduced PowerBank, a stationary storage product to store and transfer energy from the grid.
Powerbank
GM Energy, a wholly owned subsidiary of GM, has launched its PowerBank, a stationary storage product to store and transfer energy from the grid.
The PowerBank also gives users an option for solar power equipment and will be available soon in 50 states, the company said. While GM did not mention its vehicle-to-home technology, the PowerBank could be used with its plan to V2H to work with GM EV compatible cars and a solar-equipped home.
