General Motors has signed a deal with a Massachusetts Institute of Technology spinout for joint development of next-generation electric vehicle batteries that are expected to cut the cost of the technology by 60%.
The tie-up with Singapore-based SolidEnergy Systems, which was founded by MIT grad Qichao Hu, is focused on new battery chemistry to reduce the size of the batteries while increasing an EV’s range. That then helps reduce the cost of the vehicles.
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