Big U.S. EV battery makers are stepping back from the market that got them started and betting on a new set of customers in an entirely different business.
Instead of carmakers, these companies have started making batteries for utilities, wind- and solar-power developers, and massive data centers that train artificial intelligence.
Selling large, stationary batteries for “energy storage systems,” or ESS, used to be a niche market that wasn’t worth much attention, said Jaehong Park, an executive at the battery arm of South Korean conglomerate LG.
“ESS was the ugly duckling for a long time within our organization,” Park said.
Note that none of this activity is occurring in Canada. Our government EV Battery play is running out of juice.
