'GM Invests Big Bucks In Battery Startup In A Bet On New Chemistry' - Electrek
Portfolio Pulse from Happy Mohamed
General Motors (GM) has invested in Mitra Chem, an AI-enabled battery materials innovator, as part of a Series B funding round. The investment is aimed at commercializing GM's EV battery production and reducing prices. GM plans to co-develop iron-based cathodes and additional cell chemistries with Mitra Chem. The startup will assist GM in developing lithium manganese iron phosphate (LMFP) cells and lithium iron phosphate (LFP) cells. The investment will also help Mitra Chem scale its operations and speed up the entry of its battery materials formulation into the market.

August 16, 2023 | 12:40 pm
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GM's investment in Mitra Chem could help it commercialize its EV battery production and reduce prices. This could potentially make GM's EVs more affordable and attractive to consumers.
GM's investment in Mitra Chem is a strategic move to further its efforts in EV batteries and develop affordable battery chemistries. This could potentially lower the cost of GM's EVs, making them more attractive to consumers and potentially boosting sales.
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