American legacy automaker General Motors announced Wednesday plans to lead a $60 million funding round in Mitra Chem.
For context, Mitra Chem is a Silicon Valley-based startup that explores lower-cost electric vehicle batteries. It employs artificial intelligence (AI) technologies to boost li-ion battery material development.
“Mitra Chem’s battery R&D facility can simulate, synthesize and test thousands of cathode designs monthly, ranging in size from grams to kilograms. These processes drive significantly shortened learning cycles, enabling shorter time to market for new battery cell formulas.”
General Motors
Partnership
As mentioned, GM will invest $60 million to support Mitra Chem’s battery operations. In return, it will aid the automaker in developing innovative iron-based cathode active battery materials like lithium manganese iron phosphate (LMFP).
GM will integrate the new battery chemistry in one of its next-gen Ultium batteries by 2026.
“This is a strategic investment that will further help reinforce GM’s efforts in EV batteries, accelerate our work on affordable battery chemistries like LMFP and support our efforts to build a U.S.-focused battery supply chain.”
Gil Golan, GM VP of Technology Acceleration and Commercialization
For context, LMFP battery chemistry is a cheaper and greener alternative to nickel-cobalt-manganese (NCM). However, it must also be noted that iron-based batteries usually have less energy density.
Interestingly, the US pioneered the development of LFP battery cells. However, Chinese giants like BYD and CATL dominated global production.
Now, the US aims to catch up with the implementation of the Inflation Reduction Act. It offers significant incentives for battery materials, parts, cells, and packs as long as they originate in North America.
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GM aims to utilize Mitra Chem-developed battery materials in the latter part of this decade. As experts suggest, LFP and LMFP battery cathodes have more basic ingredients than nickel and cobalt. They are also less explosive than the latter.
All that said, the new battery technology would aid GM in offering cheaper EVs and establishing a local battery supply chain.
