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GM is expanding efforts to capitalize on the expected growth of energy storage and data centers and the development of next-generation sodium-ion batteries. View More

In this articleGMFollow your favorite stocksCREATE FREE ACCOUNT A GM energy display is seen at the New York International Auto Show on April 16, 2025.Danielle DeVries | CNBC General Motors is expanding efforts to capitalize on the expected growth of energy storage and data centers by promoting different battery cell chemistries, while also offering more support for its electric vehicle owners to combat higher energy costs.The Detroit automaker detailed plans Tuesday to increase its vehicle-to-grid capabilities — in which a vehicle can provide energy to the electric grid — for its EV customers and develop next-generation sodium-ion batteries that GM's battery leader said "will reshape grid-scale energy storage."Both moves are meant to address concerns about rising energy costs amid an artificial intelligence boom. The stock market has speculated that vast sums of money will be spent on infrastructure to support a big data center buildout."Sodium-ion-powered energy storage systems have the potential to operate without active cooling and with much less system complexity," Kurt Kelty, GM's vice president of battery and sustainability, said Tuesday in a blog post. "In large energy storage systems, that matters."Not having to cool the battery cells could lead to lower upfront costs as well as operating costs, the automaker said. At a foundational level, a sodium-ion battery works much like a lithium-ion battery, but GM says it has the potential to perform across a wider range of temperatures and for more cycles.Courtesy GM GM is partnering with Denver-based startup Peak Energy on sodium-ion battery cell development, after the company already demonstrated how the chemistry can "translate into lower costs and greater reliability," Kelty said.The automaker expects the tie-up with Peak Energy will produce sodium-ion cells for customer use after 2028.The leadership team of Peak Energy — which was founded in 2023 — includes former employees of Tesla, Lockheed Martin and battery developer Northvolt, according to its website.A GM spokesman declined to comment on details or cost of the partnership with Peak Energy.Along with developing new sodium-ion battery cells, GM said it is continuing work on reusing its large EV batteries for energy storage systems with companies such as Redwood Materials and producing lower-cost lithium iron phosphate, or LFP, battery cells through a joint venture with LG Energy Solution. LFP batteries are viewed as a quick way for companies to take advantage of existing battery capacity, while GM said it sees the sodium-ion battery cells as a future solution for such systems."Our next-generation sodium-ion cell development will drive energy density higher, with the potential to outperform more mature chemistries, including LFP, over time. In a market increasingly shaped by cost pressure, energy demand growth, and geopolitical risk, that's a real differentiator," Kelty said.GM has spent billions of dollars in recent years to increase its research and development as well as battery cell production for exponential growth of all-electric vehicles that did not materialize as planned.GM, through its Ultium Cells joint venture, currently has about 90 gigawatt hours of production capacity at two plants, one in Ohio and one in Tennessee. Ultium Cells in March announced a $70 million investment to begin producing LFP batteries for energy storage systems at the Tennessee plant. watch nowVIDEO3:4003:40Why automakers are betting big on energy storageDigital Original Other automakers, including GM crosstown rival Ford Motor, have shifted to focus on energy storage to assist in filling capacity at multibillion-dollar battery plants in the U.S.For GM customers, the ability to have an EV be capable of sending energy back to the grid during peak hours, or to power their home, through an energy storage system from the Detroit automaker could help with reducing energy costs and grid usage.GM said it is seeking partnerships with utility companies nationwide to assist in offering such vehicle-to-grid services for customers. It's already working with utility companies in California and Michigan.Residential electricity prices in the U.S. have risen by nearly 48% since January 2020, from 12.76 cents per kilowatt-hour to 18.83 cents per kilowatt-hour in March 2026, and are expected to rise to around 19 cents per kilowatt-hour starting in March 2027, according to a recent forecast by the U.S. Energy Information Administration.GM on Tuesday also announced an "Energy Pass" that targets more seamless public charging for its EV customers, including when using Tesla Superchargers, and said all of the all-electric vehicles it produces as of the 2027 model year will include a North American Charging Standard charging port. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Also, the families of contract workers killed in the Vizag Steel Plant blast will receive ?45.75 lakh each as compensation, Pawan Kalyan said View More

The partnership will focus on talent development, applied research, technology transfer and industrial competitiveness View More

JSW Steel reported a significant 15 percent jump in crude steel production for May. The company produced 22.93 lakh tonnes, a notable increase from the previous year. This growth was fueled by the full operational capacity of the Dolvi unit and the ramp-up of JVML operations. JSW Steel USA-Ohio also saw a 20 percent rise in its output. View More

New Delhi: Sajjan Jindal-led JSW Steel on Tuesday said its crude steel production rose by 15 per cent to 22.93 lakh tonnes (LT) in May, driven by full operations of the Dolvi unit and fully ramped-up JVML operations . The company's crude steel output was 19.96 LT in May 2025. JSW Vijayanagar Metallics Ltd (JVML) is a wholly-owned subsidiary of JSW Steel. "Production was higher in May 2026 mainly due to full operations of the Dolvi unit (one of the blast furnaces was under planned maintenance shutdown in May 2025) and JVML operations fully ramped up," JSW Steel said in a regulatory filing. Blast furnace 3 at Vijayanagar is under shutdown for upgradation of capacity, and is expected to restart in the second fortnight of June 2026. Live Events The capacity utilisation for Indian operations for the month, excluding BF3 capacity, was at 98 per cent and including BF3 capacity was at 87 per cent. Also Read: Vizag Steel Plant accident: Centre announces Rs 25 lakh ex gratia, job for victims' kin Indian operations registered output of 21.98 lakh tonnes, up 15 per cent from 19.17 lakh tonnes in May last fiscal. JSW Steel USA-Ohio produced 0.95 lakh tonnes, registering a 20 per cent rise compared to 0.79 lakh tonnes in the same period of the last financial year. The steel business undertaking of Bhushan Power and Steel Limited (BPSL), a subsidiary of the company, was transferred on a slump-sale basis to JSW-JFE Steel Ltd (JV company) in March 2026. The production figures relating to the transferred undertaking have been reduced from the previous year's numbers for comparison, the filing said. JSW Steel is the flagship business of the diversified, USD 23 billion JSW Group. The JSW Group has interests in energy, infrastructure, cement, paints, realty, e-platforms, mobility, defence, sports, and venture capital. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

CMR Green Technologies' IPO is poised for a strong debut, boasting a 36% grey market premium. The aluminium recycling giant saw overwhelming investor demand, with subscriptions exceeding 127 times. Analysts highlight its market leadership, expansion potential, and alignment with green initiatives, suggesting significant listing gains. View More

Investors are closely tracking the GMP of CMR Green Technologies after the company's IPO drew overwhelming demand and is now set for one of the strongest debuts this year in an otherwise muted primary market so far this year. The company is commanding a grey market premium (GMP) of about 36% ahead of its stock market debut. At the current GMP of around Rs 69, the stock is expected to list near Rs 261 per share, compared with its issue price of Rs 192, implying a potential listing gain of nearly 36%. The stock is scheduled to debut on the NSE and BSE on June 10, making it the first mainboard IPO to hit the market in nearly a month. The Rs 631 crore issue, which was entirely an offer for sale ( OFS ), received a strong response from investors across categories. The IPO was subscribed 127.07 times, with qualified institutional buyers (QIBs) leading demand at 270.46 times subscription. The non-institutional investor (NII) portion was subscribed 172.35 times, while the retail category was booked 27.08 times. The company had also raised Rs 188 crore from anchor investors ahead of the issue. Analysts said the robust demand reflects investor confidence in CMR Green Technologies' position as India's largest non-ferrous metal recycler and the biggest player in the domestic secondary aluminium market by revenue. Live Events Arihant Capital said the company's leadership in aluminium recycling, and its installed capacity of more than four times that of its nearest domestic competitor augurs well. The brokerage also pointed to the company's dominant position in the automotive cast alloy segment, where it commands an estimated market share of 42-45%, and recommended subscribing to the IPO. SBI Securities said CMR enjoys significant scale advantages with an installed capacity of 4.7 lakh tonnes per annum and sees growth opportunities from expansion into wrought aluminium products and increasing demand for recycled metals. It also maintained a "Subscribe" rating. Deven Choksey Research noted that the company is well positioned to benefit from long-term themes such as electric vehicle adoption, rising aluminium intensity in automobiles, decarbonisation and India's circular economy push. The brokerage recommended subscribing to the issue. CMR Green Technologies manufactures recycled aluminium alloys, aluminium billets, zinc alloy ingots and other recycled metal products. Its customer base includes leading automotive manufacturers and component suppliers such as Maruti Suzuki, Bajaj Auto, Honda Cars India and Hero MotoCorp. The company operates 13 recycling facilities across India and has a diversified scrap sourcing network spanning domestic and international markets. Financially, CMR reported revenue of Rs 6,697 crore and net profit of Rs 155 crore in FY25. For the nine months ended December 2025, it posted revenue of Rs 6,291 crore and profit after tax of Rs 162.4 crore, indicating continued operational momentum. With strong institutional participation, and a GMP of 36%, investors expect CMR Green Technologies to deliver one of the stronger IPO debuts seen in recent months. However, as with all grey market indicators, the final listing performance will depend on broader market conditions and investor sentiment on listing day. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

Tata Steel set ?to raise ?3,000 crore through ?a sale of five-year bonds, while ?Tata Projects could raise ?500 crore-?1,000 crore through a combination of three-year ?and five-year papers View More

According to officials, the accident occurred while molten iron, heated to around 1,600 degrees Celsius, was being moved in a bucket by a crane View More

At least eight workers were killed at the Vizag Steel Plant in Andhra Pradesh after molten metal fell on them. View More

CMR Green IPO Allotment Status: CMR Green Technologies IPO investors are set to receive allotment updates on June 8 after the Rs 631 crore issue witnessed overwhelming demand, with subscriptions reaching 127 times overall. Strong interest from institutional and non-institutional investors has heightened anticipation ahead of the company's market debut later this week. View More

Investors who applied for the CMR Green Technologies IPO are expected to find out their allotment status on Monday, June 8, as the company prepares for its stock market debut later this week. The Rs 631 crore IPO, which closed on June 5, received a strong response from investors across categories, with the issue being subscribed 127.07 times overall. The qualified institutional buyer (QIB) portion was subscribed 270.46 times, while the non-institutional investor (NII) category was subscribed 172.35 times. The retail investor quota attracted bids worth 27.08 times the shares reserved. Ahead of listing, the IPO is commanding a grey market premium (GMP) of around 34%, according to market trackers. Based on the issue price of Rs 192 per share, the GMP indicates a potential listing price of about Rs 257-258, although grey market premiums are unofficial and do not guarantee listing gains. How to check CMR Green Technologies IPO allotment status Investors can check their allotment status through the registrar, Kfin Technologies , or through the BSE website. Visit the Kfin Technologies allotment portal (https://ipostatus.kfintech.com/).Select CMR Green Technologies IPO from the dropdown.Enter PAN, application number or DP ID.Submit the request to view allotment status.Check on BSE India website (https://www.bseindia.com/investors/appli_check.aspx)Select Equity under Issue Type and choose CMR Green Technologies from the dropdown.Enter your application number and PAN.Click on Search to check if you’ve been allotted shares. Refunds for unsuccessful applicants are scheduled to be processed on June 9, while shares will be credited to successful investors' demat accounts on the same day. The stock is scheduled to list on both the NSE and BSE on June 10. Live Events The IPO was entirely an offer for sale (OFS) of 3.29 crore shares aggregating Rs 630.88 crore. Since the issue was an OFS, the company will not receive any proceeds from the public issue. CMR Green Technologies is one of India's largest non-ferrous metal recyclers and operates in the secondary aluminium market. The company manufactures recycled aluminium alloys, zinc alloy ingots and aluminium billets, serving major automotive OEMs and component manufacturers including Maruti Suzuki , Honda Cars India, Hero MotoCorp , Bajaj Auto , Royal Enfield and Endurance Technologies . The company reported total income of Rs 6,696.7 crore and net profit of Rs 155 crore in FY25. It had reported a loss in FY24 due to exceptional items but returned to profitability as operational performance improved. The company raised Rs 188.4 crore from anchor investors before the IPO, attracting participation from several institutional investors. Brokerages were largely positive on the issue. Out of tracked recommendations, eight brokerages recommended subscribing to the IPO, while two suggested investors may apply with a medium-to long-term perspective. Given the strong subscription numbers and the current GMP of 34%, investors will be closely watching whether the stock can deliver a strong listing performance when it debuts on June 10. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

The steelmaker will run its alternate UK facility 24/7 to protect customer supplies after a critical processing line completely collapsed in the blaze. View More