GM’s electric future depends on a new battery — and this facility
AI-summarised brief · reviewed before publication
General Motors has opened a new Battery Cell Development Center, a 500,000-square-foot facility, as part of its $900 million bet on its electric future. The center will develop a new battery chemistry known as LMR, which is expected to slash the cost of EVs by nearly 10%. GM plans to bring LMR batteries to market a year faster than planned, with the goal of getting them on the road by 2028. The company's EV strategy has been hindered by high costs and intense competition, but the new center is expected to help GM get back on track. The LMR chemistry is almost as energy dense as the current NMC chemistry but at a lower cost.
💡 Why It Matters
- · GM's ability to master the LMR battery recipe and scale it up to commercial production will be crucial to its competitiveness in the EV market.
- · By developing a more cost-effective battery chemistry, GM can bridge the price gap between its EVs and traditional gas-powered vehicles.