GM backs EV battery startup as it shifts future focus to cheaper materials

GM backs EV battery startup as it shifts future focus to cheaper materials

Wednesday, August 16, 2023

DETROIT, Aug 16 (Reuters) - General Motors (GM.N) is investing in a Silicon Valley startup to help it speed development of a more affordable battery chemistry for its future electric vehicles, the company said on Wednesday.

GM will lead a $60 million investment in Mitra Chem, a two-year-old Mountain View, California, company that uses artificial intelligence to accelerate development of lithium-ion battery materials.

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