US car maker GM is investing in an AI-enabled battery materials company called Mitra Chem. The investment – GM is leading the $60 million Series B round – will help accelerate GM’s commercialisation of affordable electric vehicle (EV) batteries, it said.
GM added it and California-based Mitra Chem will develop advanced iron-based cathode active materials (CAM) like lithium manganese iron phosphate (LMFP), to power “affordable and accessible” EV batteries compatible with GM’s Ultium battery platform.
Its funding will help Mitra Chem scale operations and expedite its novel battery materials formulation to market.
Gil Golan, GM vice president, said: “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 US-focused battery supply chain.
“GM is accelerating larger investments in critical subdomains of battery technology, like cell chemistry, components and advanced cell production processes. Mitra Chem’s labs, methods and talent will fit well with our own R&D team’s work.”
Mitra Chem’s battery R&D facility can simulate, synthesise and test thousands of cathode designs monthly. It means over 90% shorter time to market for new battery cell formulas, according to GM.
Additional requests are in at Mitra Chem for samples to cover the next year of production. This includes nearly every global Tier 1 battery cell maker and multiple household name automotive OEMs.
Iron-based cathodes move away from using elements such as nickel and cobalt, which “are facing imminent supply crunches,” GM said.
