Overview

• GM leads $60M Series B funding in Mitra Chem to develop cheaper EV batteries.
• Mitra Chem utilizes AI to accelerate battery R&D and aims to commercialize lithium manganese iron phosphate cells.
• Iron-based cathode materials like LMFP are more sustainable and affordable alternatives to cobalt/nickel-based cells.
• GM seeks to build a U.S.-focused battery supply chain and integrate Mitra Chem's tech into its Ultium platform.
• The new partnership aligns with GM's goals to reduce reliance on foreign supply chains and develop cheaper EV battery chemistries.