TL;DR CNBC

General Motors is investing in a startup working on better and cheaper EV batteries

Publishing timestamp: 2023-08-16 12:00:02

Summary

GM is leading a $60 million investment round in Mitra Chem, a California startup working on developing cheaper EV batteries. Mitra Chem is focusing on creating low-cost lithium iron phosphate batteries that can hold more power than current versions. If successful, these batteries could potentially be used in GM's EVs later in the decade.

Sentiment: POSITIVE

Tickers: GM,  TM,  F,  TSLA, 

Keywords: breaking news: business,  technology,  climate,  tesla inc,  business news,  general motors co,  breaking news: technology,  business,  toyota motor corp,  transportation,  ford motor co, 

Source: https://www.cnbc.com/2023/08/16/gm-investing-in-mitra-chem-startup-building-cheaper-lfp-ev-batteries.html