US Automakers Diversify into Energy Storage as EV Demand Weakens
As the dynamics of the electric vehicle market change in the wake of the end of purchase subsidies for customers and supply chain challenges, U.S. automakers have turned to the energy storage industry as a way to utilize their production capacity for batteries and protect their investments. This change in product enables the carmakers to keep their battery factories open and capable of making EV batteries if market conditions change for the better. The factories are being retooled to make stationary battery energy storage systems (BESS) and the production lines can be changed, at a cost, to resume EV battery…
