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General Motors (GM) to Offer V2H Charging for Ultium EV Lineup
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General Motors (GM - Free Report) has announced the expansion of its vehicle-to-home (V2H) bidirectional charging technology across its upcoming Ultium-based electric vehicle (EV) portfolio in a significant move toward enhancing the EV experience. This strategic decision showcases GM's commitment to advancing the electric mobility landscape and providing customers with innovative solutions that go beyond traditional transportation.
The V2H technology will debut with the 2024 Chevrolet Silverado EV RST, followed by the 2024 GMC Sierra EV Denali Edition 1, 2024 Chevrolet Blazer EV, 2024 Chevrolet Equinox EV, 2024 Cadillac LYRIQ and the upcoming Cadillac ESCALADE IQ, slated to be unveiled on Aug 9. The integration of this groundbreaking technology not only demonstrates GM's technical prowess but also its holistic approach toward energy management.
V2H technology enables a two-way flow of energy between the EV and the home, empowering customers with greater control over their energy consumption. By allowing energy transfer from the vehicle to a home equipped with the necessary infrastructure, users can efficiently store energy for peak demand periods or use it as a backup during power outages. The integration of V2H across the entire Ultium-based lineup signifies a major step forward in democratizing this technology, reaching a broader spectrum of consumers than ever before.
The company's investment in V2H is part of its broader strategy to offer a comprehensive suite of energy-related products and services. Leveraging GM Energy and the Ultium Home offerings, customers will be able to seamlessly integrate V2H technology into their daily lives, fostering greater sustainability and resilience in the face of energy challenges.
GM's approach underscores its commitment to innovation and sustainability. By combining cutting-edge EV technology with energy management solutions, the company is not only appealing to environmentally-conscious consumers but also addressing practical concerns, like energy reliability.
Last month, the legacy automaker reported its second-quarter 2023 results. It delivered a comprehensive beat as well as witnessed a year-over-year increase in sales and earnings. Encouragingly, GM also lifted its full-year outlook.
For 2023, General Motors’ full-year net income is now estimated in the band of $9.3-$10.7 billion, up from the previously guided $8.4-$9.9 billion range. The adjusted EBIT forecast has been revised upward to $12-$14 billion from $11-$13 billion guided before. Adjusted EPS is expected in the band of $7.15-$8.15 a share, up from the prior forecast of $6.35-$7.35. Adjusted automotive free cash flow is envisioned between $7 billion and $9 billion, up from the previous projection of $5.5-$7.5 billion.
The Zacks Consensus Estimate for TM’s 2024 fiscal sales and EPS implies year-over-year growth of 10.6% and 27.6%, respectively. The earnings estimate for fiscal 2024 has been revised upward by 21 cents in the past seven days.
The Zacks Consensus Estimate for STLA’s 2023 sales implies year-over-year growth of 13%. The earnings estimate for 2023 has been revised upward by 37 cents in the past 30 days.
The Zacks Consensus Estimate for PCAR’s 2023 sales and EPS implies year-over-year growth of 23% and 48%, respectively. The earnings estimate for 2023 has been revised upward by 71 cents in the past 30 days.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
Image: Bigstock
General Motors (GM) to Offer V2H Charging for Ultium EV Lineup
General Motors (GM - Free Report) has announced the expansion of its vehicle-to-home (V2H) bidirectional charging technology across its upcoming Ultium-based electric vehicle (EV) portfolio in a significant move toward enhancing the EV experience. This strategic decision showcases GM's commitment to advancing the electric mobility landscape and providing customers with innovative solutions that go beyond traditional transportation.
The V2H technology will debut with the 2024 Chevrolet Silverado EV RST, followed by the 2024 GMC Sierra EV Denali Edition 1, 2024 Chevrolet Blazer EV, 2024 Chevrolet Equinox EV, 2024 Cadillac LYRIQ and the upcoming Cadillac ESCALADE IQ, slated to be unveiled on Aug 9. The integration of this groundbreaking technology not only demonstrates GM's technical prowess but also its holistic approach toward energy management.
V2H technology enables a two-way flow of energy between the EV and the home, empowering customers with greater control over their energy consumption. By allowing energy transfer from the vehicle to a home equipped with the necessary infrastructure, users can efficiently store energy for peak demand periods or use it as a backup during power outages. The integration of V2H across the entire Ultium-based lineup signifies a major step forward in democratizing this technology, reaching a broader spectrum of consumers than ever before.
The company's investment in V2H is part of its broader strategy to offer a comprehensive suite of energy-related products and services. Leveraging GM Energy and the Ultium Home offerings, customers will be able to seamlessly integrate V2H technology into their daily lives, fostering greater sustainability and resilience in the face of energy challenges.
GM's approach underscores its commitment to innovation and sustainability. By combining cutting-edge EV technology with energy management solutions, the company is not only appealing to environmentally-conscious consumers but also addressing practical concerns, like energy reliability.
Last month, the legacy automaker reported its second-quarter 2023 results. It delivered a comprehensive beat as well as witnessed a year-over-year increase in sales and earnings. Encouragingly, GM also lifted its full-year outlook.
For 2023, General Motors’ full-year net income is now estimated in the band of $9.3-$10.7 billion, up from the previously guided $8.4-$9.9 billion range. The adjusted EBIT forecast has been revised upward to $12-$14 billion from $11-$13 billion guided before. Adjusted EPS is expected in the band of $7.15-$8.15 a share, up from the prior forecast of $6.35-$7.35. Adjusted automotive free cash flow is envisioned between $7 billion and $9 billion, up from the previous projection of $5.5-$7.5 billion.
Zacks Rank and Key Picks
GM currently carries a Zacks Rank #3 (Hold). A few top-ranked players in the same space include Toyota (TM - Free Report) , Stellantis (STLA - Free Report) and PACCAR (PCAR - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for TM’s 2024 fiscal sales and EPS implies year-over-year growth of 10.6% and 27.6%, respectively. The earnings estimate for fiscal 2024 has been revised upward by 21 cents in the past seven days.
The Zacks Consensus Estimate for STLA’s 2023 sales implies year-over-year growth of 13%. The earnings estimate for 2023 has been revised upward by 37 cents in the past 30 days.
The Zacks Consensus Estimate for PCAR’s 2023 sales and EPS implies year-over-year growth of 23% and 48%, respectively. The earnings estimate for 2023 has been revised upward by 71 cents in the past 30 days.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.