First Tesla, then Ford, now GM – it seems every car maker wants its slice of the energy storage pie. While electric vehicle (EV) sales have hit a plateau in the US, stationary batteries have doubled in demand over two years.

The market’s potential is driving GM to roll out sodium-ion chemistry, aiming for a family of cells that can compete with lithium-ion. The beauty? These materials are cheap and abundant, needing no active cooling system – plus China hasn’t yet cornered the market on them.

Despite Tesla currently holding 82% of the energy storage market, GM isn't rushing in. Sodium-ion won’t be ready until later this decade, giving it time to develop a product that can withstand many more charge-discharge cycles than lithium-ion batteries. This could see GM’s gross profit margins rival those from selling EVs.

The race is on for lower cost and better performance, with China’s automakers already experimenting. LMR, GM's new chemistry, promises to cut the cost of a new EV by around 10%, making it closer to parity with fossil fuel vehicles.

Will GM’s cautious approach pay off? It’s a calculated bet – if the market contracts, they still have the best product in their arsenal. With urgency on the horizon, only time will tell which players will dominate as energy storage becomes more vital for our increasingly electrified world.