GM Taps AI Tech In Mitra Chem Investment To Turbocharge EV Battery Evolution
Portfolio Pulse from AJ Fabino
General Motors (GM) has invested in AI-enabled battery materials innovator Mitra Chem to commercialize its EV battery production and reduce costs. GM is the lead investor in a Series B funding round for Mitra Chem, with the aim of co-developing iron-based cathodes and other cell chemistries. Mitra Chem's approach can reportedly shorten the lab-to-production battery timeline by over 90%. This move follows Toyota's (TM) recent announcement of a technological breakthrough that could halve the weight, size, and cost of batteries.
August 16, 2023 | 4:57 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The advancements in battery technology by GM and Toyota could pose a challenge to Tesla's dominance in the EV market.
The advancements in battery technology by GM and Toyota could potentially narrow the gap with frontrunners like Tesla in the EV market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
GM's investment in Mitra Chem could accelerate its transition to EV production and reduce costs.
GM's investment in Mitra Chem is a strategic move to commercialize its EV battery production and drive down prices. This could potentially give GM a competitive edge in the EV market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Toyota's recent announcement of a battery technology breakthrough could enhance its position in the EV market.
Toyota's development of solid-state batteries could drastically reduce charging times, increase capacity and lessen fire risks. This could potentially enhance Toyota's position in the EV market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70