GM is investing $60 million in battery research company Mitra Chem, a California-based startup which could help spur the development of cheap batteries for EVs.
According to the company press release, two-year-old California-based Mitra Chem has been at the forefront of battery technology research, focusing on developing sustainable and high-performance energy storage solutions.
Automakers like Ford and Tesla are already using LFP-based batteries. But one downside of LFP is that it doesn't allow it to pack as much energy as NCM.
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