Earlier, GM had revealed that it will be collaborating with SES to create efficient batteries which allow for a higher electric vehicle driving range in a smaller package
General Motors is yet again ready to mark its presence in the automotive industry which is on the zenith of getting electrified as it leads a fundraiser for Chinese battery manufacturing start-up SES, making a $139 million investment into the lithium metal battery producing company as demand for electric vehicles around the world picks up.
“The main purposes of this funding is to, one, improve the key material, this lithium metal electrolyte on the anode side and the cathode side, and, two, to improve the scale of the current cell from the iPhone battery size to the size that can be used in cars,” SES CEO Hu Qichao said in a recent interview.
The investment from GM is the culmination of nearly six years of work with the big automaker, said Hu, adding that the companies have been working together since 2015.
Earlier, GM had revealed that it will be collaborating with SES to create efficient batteries which allow for a higher electric vehicle driving range in a smaller package.
Hu further explained that a third component to the financing is to increase the company’s algorithmic capabilities to monitor and manage cell performance.
GM executive vice president Matt Tsien said in a statement, “GM has been rapidly driving down battery cell costs and improving energy density, and our work with SES technology has incredible potential to deliver even better EV performance for customers who want more range at a lower cost.
According to reports, a new manufacturing line in Woburn, Massachusetts is in the cards for the two companies as well, where they plan to assemble a prototype battery by 2023.
