General Motors continues its all-in effort on electric vehicles with Tuesday’s announcement of a new battery research facility in Michigan, named the Wallace Battery Cell Innovation Center.
GM will pursue lithium-metal and silicone technologies as it looks to reduce the cost of batteries by 60% with its next-generation Ultium battery units. This, in turn, fuels GM’s goal of bringing EVs to market quicker and at far more affordable prices than what we see today.
A Chevy Bolt EV still costs thousands more than a comparable small crossover, for example. Knock 60% off the cost of a battery and then we may see some real price parity with EVs and a car with an internal-combustion engine.
Read the article at Roadshow.