tech
Everyone wants a piece of Tesla's battery business
Electricity demand from AI data centers is pushing everyone — including automakers like GM and Ford — into the energy storage business.
TL;DR
- The energy storage market is experiencing significant growth, with sales of stationary batteries doubling in the past two years.
- Automakers such as Tesla, Ford, and GM are increasingly investing in this sector.
- GM is developing a new sodium-ion battery chemistry, aiming for lower costs and greater supply chain resilience.
- Growth in the energy storage market is fueled by the expansion of data centers for AI and the electrification of sectors like transportation and manufacturing.
- Tesla currently dominates the market, holding a significant share of installations and generating substantial profits from its energy storage products.
- GM's sodium-ion batteries are expected to be ready later this decade, offering advantages such as cheaper materials, no need for active cooling, and more charge-discharge cycles.
- GM is also working on a lithium-manganese-rich (LMR) chemistry for EVs, aiming to reduce costs and increase range.