Novelis Restarts Oswego Mill, Easing $437M Aluminum Shortage for General Motors; Automaker Expands EV Energy Storage
GM•Novelis restarted its Oswego, New York hot mill after nine months offline, restoring supply of automotive aluminum sheet for GM and automakers after dual fires that cost Hindalco $437 million. UBS reiterated Buy on General Motors as it introduces EV-to-grid software, pursues data-center energy storage and develops sodium-ion batteries.
1. Novelis Restarts Oswego Plant
Novelis brought the hot mill at its Oswego, New York aluminum plant back online nine months after two fires knocked the facility offline. The company anticipates operating below full capacity in the coming weeks as it works to restore full sheet-rolling output.
2. Automotive Supply Impact
The outages triggered a supply crisis for automakers, tightening availability of fenders, hoods and other exterior parts for General Motors and peers. Parent Hindalco reported a $437 million financial toll, while Ford disclosed up to $2 billion in one-time charges tied to the disruption.
3. GM Expands Energy and Software Strategy
General Motors is diversifying into energy services with a software update enabling EV owners to sell battery power back to the grid. The automaker is also targeting data-center storage markets and partnering on sodium-ion batteries designed for 20-year life and U.S.-sourced materials.
