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GM and Ford pivot EV battery write-downs into grid storage push
Ford said it plans to invest about $2 billion over the next two years to scale its battery energy storage business.
GM and Ford are looking to turn losses tied to underutilized electric vehicle battery capacity into a new growth line in battery energy storage systems, as demand rises for storage supporting data centers and the electric grid, OilPrice reports.
The shift comes after both automakers wrote down billions of dollars related to their EV expansion, with Ford recording a $19.5 billion write-down and GM taking cumulative $10.9 billion in charges as they scaled back their EV efforts.
OilPrice reports that Ford launched a battery energy storage systems business at the end of 2025 after reshuffling its EV strategy, planning to offer only its most competitive EV models while expanding customer choice with additional hybrid and gasoline vehicles.
To scale the storage unit, Ford is repurposing existing U.S. battery manufacturing capacity in Glendale, Kentucky, and said it intends to invest roughly $2 billion in the next two years to grow the business.
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