Vivint Solar (VSLR) shares were up nearly 2% in early market trading Thursday after the company announced a partnership with German automaker Daimler AG (DDAIF) to produce home batteries, tapping into an industry that generated $320 million in revenue last year.
Home battery systems allow customers to store solar energy captured during the day for use at night, a time when they might charge their electric vehicles. Daimler plans to sell the batteries through the Mercedes-Benz Energy subsidiary it created last year.
"In the future when someone steps into a dealership and they are looking to purchase an EV, they are asking for several solutions and storage will be one of them," Mercedes-Benz Energy Americas head Boris von Bormann said.
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