- General Motors Company (NYSE: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.
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