General Motors GM’s Sodium-Ion Partnership with Peak Energy Adds a Capital-Light Grid Storage Leg Alongside LGES Vertech

研报英文原文证据摘录

General Motors GM’s Sodium-Ion Partnership with Peak Energy Adds a Capital-Light Grid Storage Leg Alongside LGES Vertech

J P M O R G A N North America Equity Research

10 June 2026

General Motors

GM’s Sodium-Ion Partnership with Peak Energy Adds a Overweight

Capital-Light Grid Storage Leg Alongside LGES GM, GM US

Vertech Price (09 Jun 26):$83.76

Autos & Auto Parts

GM’s capital-light push into Grid Storage and Home Energy: (1) Grid-scale Rajat Gupta AC

storage: GM is partnering with Peak Energy to develop and deploy a built-for- (1-212) 622-6382

purpose sodium-ion chemistry for grid-scale storage systems, with GM's battery rajat.gupta@jpmorgan.com

labs optimizing the chemistry for stationary applications; (2) Vehicle-to-grid and Yash Beswala

home energy: GM noted having more than ~250K bidirectional-capable GM EVs (1-212) 622-0028

on US roads today and is integrating bidirectional capability as a standard across yash.beswala@jpmchase.com

its portfolio, running localized V2G testing with PG&E and DTE Energy (a Jash Patwa

projected ~130K GM EV fleet in Northern California by 2030, with over 52K (1-212) 622-5472

jash.patwa@jpmchase.com

systematically participating in grid-balancing protocols); on the consumer side, J.P. Morgan Securities LLC

GM also launched Energy Pass, an in-app feature to find and pay for public

charging, and reiterated its V2H home-backup proposition (GM EVs paired with

home energy systems can sustain a home for days during localized outages); (3)

Battery circularity: GM is the first automaker working with Redwood Materials

across the entire battery lifecycle, with ~10,000 second-life GM batteries being

deployed into energy infrastructure including Crusoe’s AI data center at

Redwood’s Sparks, NV site (North America’s largest microgrid), and ~100