With sales slumping and policy support waning, EV manufacturers are retooling 10 North American plants to instead serve the energy storage market. (FT)
While last year’s Big Beautiful Bill killed EV tax credits, it retained lucrative manufacturing subsidies for battery production, encouraging companies like Ford, GM, and Stellantis to chase the soaring demand for power reliability by pivoting to batteries.
Yes, but: The switch is a gamble. US-made batteries may be inferior to Chinese imports on price and performance, and companies risk falling behind if the EV market eventually rebounds.