GM Takes A Leaf Out Of Tesla's Book: EVs To Double As Home Backup Power Sources During Blackouts
Portfolio Pulse from Benzinga Neuro
General Motors (GM) plans to equip all its electric vehicles with the ability to serve as backup power during electricity blackouts. The technology will debut in vehicles this year and by 2026, all GM electric vehicles will feature this vehicle-to-home technology. This move intensifies GM's rivalry with Tesla (TSLA), which currently lacks this capability in its vehicles.
August 09, 2023 | 7:03 am
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POSITIVE IMPACT
GM's move to equip its EVs with backup power capability could increase its competitive edge in the EV market.
GM's new feature could make its EVs more attractive to consumers, potentially leading to increased sales and a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tesla's lack of a similar feature in its vehicles could put it at a competitive disadvantage.
Tesla's lack of a similar feature could make its vehicles less attractive to consumers compared to GM's, potentially leading to decreased sales and a negative impact on its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80