Automaker Giant's Energy Business Plummets 5% in a Day

General Motors Co. (NYSE: GM) shares closed at $79 on the New York Stock Exchange on the 10th, down 5.68%. The company’s market capitalization fell by approximately $3.8 billion, to roughly $71.2 billion (about KRW 100 trillion), in a single trading session. Trading volume reached 5.65 million shares, slightly above the average level.

GM has recently stepped up its vehicle-to-grid (V2G) efforts, rolling out a software update that enables electric-vehicle owners to sell power back to the U.S. grid and announcing plans to enter the grid-scale energy-storage market with sodium-ion battery systems. The previous day, GM also unveiled a strategic partnership with energy-storage startup Peak Energy to further expand its energy-storage business.

Headquartered in Detroit, GM is a global automaker that sells millions of vehicles annually through brands such as Chevrolet and Cadillac. The company has identified its Ultium electric-vehicle platform, software, and energy business as its core growth pillars. In the first quarter of 2026, GM reported approximately $43.6 billion in revenue and net income of several billion dollars. However, medium- to long-term risks include its China restructuring, the costs of the electric-vehicle transition, and regulatory challenges, including privacy-related litigation.