GM partners with startup Mitra Chem to develop affordable EV batteries

General Motors is leading a $60 million Series B round into Mitra Chem, a battery materials startup promising to help build more affordable and accessible EV batteries for future GM vehicles.
Battery innovations are crucial for automakers seeking to lower electric vehicle costs and promote widespread consumer adoption.
GM’s latest investment is in line with its commitment to build a U.S.-focused battery supply chain. The automaker has already pledged to invest $13.5 billion on four battery factories in the U.S. that will have a collective capacity of 165 gigawatt-hours annually by 2026.

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