New energy division. https://www.theguardian.com/business/2022/oct/11/general-motors-gm-energy-tesla-solar-energy
Wait, isn't GM trying to beat 'em? However, I doubt stodgy old GM could ever make itself as valuable as Tesla--unless Tesla crashes after Elon loses his shirt (and other items of clothing) with Twitter. I was surprised to read in that article Tesla lost money on their energy product line. That's probably what encouraged Mary to start this new GM venture.
That's almost irrelevant as Tesla has over $4.4bn in deferred revenue on the books. As of June 2022 about $2.66bn is for Full Self Driving (“FSD”) features, internet connectivity, Supercharger network and over-the-air software updates. Deferred energy revenues was about $678 million as of June 2022.
I hope that more automakers follow this strategy. It'll incentivize them to produce more batteries and EVs, which should help lower costs through economies of scale and competition in the long run. Plus it'll be interesting to see how EVs will play a role on the grid as more of them have this sort of functionality available to them.
Me too … especially hydrogen fuel cells. Let them waste their time and money to go out of business sooner than later. As Dr Deming said, “Survival is not guaranteed.” Bob Wilson