Partnership between automotive giant GM and startup Addionics promises to reduce costs and increase the efficiency of lithium batteries, thus reducing the price of future electric cars in the automotive industry.
Have you ever stopped to think about how lithium batteries are transforming the world? These little wonders are the heart of mobile devices and electric cars. However, the cost of these batteries has been an obstacle to making electric vehicles (EVs) more affordable for everyone. The good news is that the giant GM – General Motors, together with the startup Addionics, is bringing innovations that promise cheaper and more efficient batteries. Let’s understand how this partnership can change the game in the automotive industry.
The race for cheaper batteries
The automotive industry is in a race against time to reduce the costs of lithium batteries. Over the past ten years, battery costs have fallen dramatically, from $780 to $139 per kilowatt-hour, according to the BloombergNEF.
This drop in prices has allowed EVs to become more popular, but recently, costs have begun to stagnate. If this continues, EVs may remain out of reach for many consumers.
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Addionics, a innovative startup based in Israel and the UK, believes the key to cheaper batteries lies in an often overlooked component: the leaf current collector. This collector is responsible for conducting electrons from active materials that store energy. Typically, these collectors resemble aluminum foil, but Addionics takes a different approach.
New technology could double battery life
Addionics has developed a technique to create copper and aluminum current collectors with small holes and wavy surfaces. That innovation It may seem simple, but it has a huge impact on battery performance. A technique involves the deposition of copper ions and the electroetching of aluminum, processes similar to those used in the manufacture of semiconductors.
Addionics three-dimensional current collectors increase the contact between the foil and the active material of the battery, improving performance and efficiency. The company claims its technology can double the life of batteries and is compatible with different types of battery chemistries. This means batteries can last longer and be more efficient, without increasing costs.
Partnership between GM and Addionics and the construction of a factory in the USA
GM Ventures, the investment arm of General Motors, led a $39 million Series B funding round for Addionics. With the participation of other companies such as Scania, this capital injection will allow Addionics to accelerate the delivery of its current collectors and explore new markets.
To further strengthen this partnership, Addionics announced plans to build a $400 million manufacturing facility in the United States. This factory will allow batteries and the electric vehicles that use them to qualify for more tax incentives under the Inflation Reduction Act. This is a big step towards making EVs more affordable for American consumers.
General Motors investment impacts the automotive industry
GM, one of the world's largest automakers, is taking an important step to lead the electric vehicle revolution. By investing in technologies that make lithium batteries cheaper, GM is not only reducing costs, but also making EVs more accessible for everyone. This initiative is crucial to accelerating the adoption of electric vehicles and reducing carbon emissions.
With Addionics at the forefront of innovation, future of lithium batteries looks promising. The ability to improve efficiency and reduce costs could be a game-changer for the automotive industry. If Addionics can commercialize its technology on a large scale, We could see a rapid expansion of electric vehicles, making them a viable option for more people.
The race to make batteries cheaper is heating up, and GM is at the forefront of this revolution. With innovations that promise to improve efficiency and reduce costs, the future of electric vehicles looks brighter than ever. The partnership between GM and Addionics is a perfect example of how innovation can transform the automotive industry and make the world a more sustainable place.