Morgan Stanley upgrades General Motors to overweight with a $100 price target amid its pivot into grid-scale energy storage.
General Motors is expanding its battery business through a partnership with Peak Energy to develop sodium-ion batteries for grid-scale energy storage. The move targets demand driven by AI data centers, utility mandates, and consumer energy storage needs, mirroring Tesla’s successful battery pivot years earlier.
GM’s shift follows declining electric vehicle demand, redirecting production capacity toward energy storage. The technology aligns with state-level utility requirements and consumer interest in solar and off-peak energy storage solutions.
Morgan Stanley analysts issued an overweight rating on GM, setting a $100 price target. The firm views the battery expansion as a key growth driver for the company’s long-term strategy.