This R&D center could soon help GM produce EVs that are more affordable and drive much farther.
General Motors said Tuesday it plans to open a battery cell development center in southeast Michigan in the middle of next year and start building prototype cells in the fourth quarter. The auto maker said it expects to spend hundreds of millions of dollars on the new center.
The battery is a key element to driving down the cost of electric vehicles. GM aims to lower the cost of batteries it’s developing with South Korea’s LG Energy Solutions by at least 60%.
Officials said future products will also extend the driving range so that vehicles COULD go up to 600 miles on a single charge.
The center will be able to produce large-format, prototype lithium-metal battery cells and develop silicon and solid-state technologies.
Shares of GM rose in early trading Tuesday.
Back in April, its rival, Ford, said it would open an EV battery development center in late 2022.