After Struggling With EVs, US Automakers Pivot to Energy
Automakers make cars—it’s in the name. But lately, politics, current events, and Wall Street’s latest preoccupation, artificial intelligence, have them looking a lot more like energy companies. The pivot, analysts say, could give US auto manufacturers struggling through a transition to electric vehicles an easier path over the next few years. Whether it works will come down to the same technology that automakers once promised would power the majority of their lineups: batteries.
An official announcement from Ford this week that it would officially spin off a subsidiary called Ford Energy only made the trend more pronounced. Ford Energy will focus on battery energy storage systems(BESS) and will sell them to utilities, industrial customers, and data centers. It plans to make its first deliveries in late 2027, the company said. Ford plans to repurpose unused production lines in a plant once slated to manufacture electric vehicle batteries...
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