GM, Ford Turn EV Battery Bust Into Energy Storage Bet
Russia Vows to Keep Selling Oil to India Despite U.S.
Tariff Threat What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… The biggest U.S.
legacy automakers look to turn the losses from their underutilized electric vehicle battery capacity into a new profitable business to seize the soaring demand for battery storage energy systems.
GM and Ford, which, due to poor demand, have written down billions of U.S.
dollars of investments in the EV expansion push, are now pivoting to the energy storage business to meet the spike in demand for battery energy storage from data centers and infrastructure to support the electric grid.
The underutilized electric vehicle battery capacity, which cost Forda massive $19.5 billionwrite-down and GM cumulative$10.9 billion chargesas they scaled back their electric vehicle businesses, is now being put to use for battery energy storage systems (BESS).
Two of Detroit’s Big Three automakers are now competing in offering battery energy storage, too.
At the end of 2025, Fordlaunched a BESS businessas it reshuffled its EV strategy to offer only the most competitive EV models and expand customer choice with additional hybrid and gasoline vehicles.
To scale up its battery energy storage business, Ford is repurposing existing U.S.
battery manufacturing capacity in Glendale, Kentucky.
“This strategic initiative will leverage currently underutilized electric vehicle battery capacity to create a new, diversified and profitable revenue stream for Ford.
The company also plans to invest roughly $2 billion in the next two years to scale the business,” the auto giant said.Related: Russia Vows to Keep Selling Oil to India Despite U.S.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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