SunPower (NASDAQ:SPWR), a leading residential solar technology provider, and General Motors (NYSE: GM) have announced a new collaboration to develop new home energy systems that will enable GM electric vehicles to provide backup energy to residential homes.

SunPower says that it has also been selected as a preferred electric vehicle charger installation provider and exclusive solar provider for General Motors. 

The company says that the new collaboration will enable bi-directional charging, which will start with the retail launch of the 2024 Chevrolet Silverado electric vehicle.

The home energy system and installation services are slated to be available alongside the retail launch of the 2024 Chevrolet Silverado EV, which is expected to launch in the Fall of 2023. With bi-directional charging capabilities, the Silverado EV paired with a home energy system is expected to provide enough electricity to provide whole home backup during a grid outage.

Peter Faricy, SunPower CEO stated: "We are proud to work alongside GM, a stalwart in American innovation, to seamlessly connect home energy and electric vehicles. This is a vital next step toward making an all-electric lifestyle easy and even more beneficial. Through this collaboration, we are making it easy for EV drivers to power their vehicles with clean energy and providing new ways to offer energy resiliency and peace-of-mind."

Shares of SunPower trade on the NASDAQ under the ticker symbol SPWR.