General Motors Invests In Nanoramic For Low-Cost, High-Performance EV Batteries

General Motors Company GM venture capital arm, GM Ventures, has made a strategic investment in Nanoramic, an energy storage and advanced materials company. The financial terms were not disclosed.
The collaboration will focus on the joint development and application of Nanoramic's proprietary Neocarbonix, an electrode technology for EV lithium-ion batteries, which targets improvements in EV battery cost, efficiency, and sustainability.
Neocarbonix achieves this by replacing conventional binder systems with a 3D nanocarbon mesh.
Also Read: General Motors Leads $50M Funding Round In Lithium Startup EnergyX To Secure Supply For EV Batteries
"This collaboration has the potential to improve both cost and sustainability in battery manufacturing for our Ultium EV Platform," said GM Ventures president Kent Helfrich.
GM is rapidly scaling production to reach 1 million units of annual EV capacity in North America by 2025.
Price Action: GM shares are trading lower by 1.02% at $34.97 in premarket on the last check Wednesday.