DETROIT — General Motors plans to provide electric components across industries to expand its electrification technology to a larger group of commercial customers, the automaker said Wednesday.
The automaker will begin introducing electric vehicle component sets for vehicle owners and non-automotive customers to retrofit their products. Use cases for GM's EV component sets span from the Chevrolet Performance and Aftermarket division to GM Powered Solutions and even airport tractor equipment.
GM estimates that the total addressable market for electrification components could grow to $20 billion (all figures in USD) by 2030 as companies within various sectors set emission-reduction goals.
"GM has an established strategy, network of integrators and co-development agreements to apply an extensive array of components and solutions to a broad range of customers and use cases," Travis Hester, GM vice president of electric vehicle growth operations, said in a statement. "As companies across many industries look to reduce their environmental impact, GM is uniquely positioned to serve as a leader not only through exciting new EVs across our brands, but through additional technology applications, and we look forward to bringing customers — existing and new — along with us on our zero-emissions journey."
GM has said it will invest $35 billion in electric and autonomous vehicle development globally through 2025. Its proprietary Ultium batteries, jointly developed with LG Energy Solution, drives a portion of that investment, and the automaker has said that its Ultium and Hydrotec fuel cell technology could be used in other industries. In the future, GM aims to implement the latest EV technology in a wide range of applications, regardless of battery generation or chemistry, the automaker said in the Wednesday statement.