Sales of the Chevy Bolt, a sub-$30,000 electric vehicle manufactured in Orion Township, Michigan, have propelled General Motors (GM) to surpass Ford and become the second-largest EV producer behind Tesla. In a strategic move to further enhance its position in the market, GM announced its leadership in a $60 million funding round for Mitra Chem, a startup based in California. Mitra Chem, founded by former Tesla and Toyota veterans, is focused on developing cost-effective batteries for EVs, particularly utilizing lithium iron phosphate (LFP) chemistry. LFP batteries offer a significant advantage as they eliminate the need for expensive minerals like cobalt and nickel, resulting in reduced manufacturing costs. This has attracted automakers like Tesla, Rivian, and Ford, who incorporate LFP cells into their more affordable vehicle models.
Although LFP cells have demonstrated durability in electric vehicles, they do possess a drawback – lower power density compared to standard cells. Consequently, EVs powered by LFP cells require more batteries and, consequently, additional weight to achieve the same range as conventional-battery-powered models. Furthermore, the majority of LFP cells currently available are produced by Chinese companies, posing a challenge for automakers seeking to qualify for U.S. subsidies.
To address these issues, Mitra Chem is working on an innovative variation of LFP battery chemistry that introduces manganese to the cathodes. This addition aims to enhance the power density of the cells while retaining the cost advantage of LFP technology. To expedite the battery development process, Mitra Chem employs an “AI-powered platform” that facilitates the testing of numerous cathode designs, enabling shorter time-to-market for new battery formulations.
Vivas Kumar, CEO of Mitra Chem, highlighted the company’s ability to synthesize and test thousands of cathode designs per month, expediting the learning cycles and accelerating the development of new battery cell formulas. Gil Golan, a GM vice president responsible for expediting the introduction of new EV technologies, expressed confidence in the synergy between Mitra Chem and GM’s R&D team, suggesting that successful battery developments by Mitra Chem could potentially be integrated into GM vehicles in the coming years.
Although the specific details of GM’s investment in Mitra Chem have not been disclosed, this collaboration signifies GM’s commitment to exploring breakthroughs in battery technology and solidifying its position in the rapidly evolving EV market.
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