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illuminem summarises for you the essential news of the day. Read the full piece on CNBC or enjoy below:
🗞️ Driving the news: General Motors (GM) has unveiled a new lithium manganese-rich (LMR) prismatic battery technology it claims will significantly reduce costs and increase profitability for its larger electric vehicles
• Targeted for use in models like the Chevrolet Silverado and Cadillac Escalade IQ from 2028, the batteries are designed to offer higher energy density and affordability by replacing costly minerals like cobalt and nickel with more abundant manganese
🔭 The context: LMR battery chemistries have existed for decades but were previously hindered by shorter lifespans
• GM, in partnership with LG Energy Solution, claims to have overcome these limitations. The batteries are part of GM's broader EV strategy under its Ultium platform, following years of R&D dating back to 2015
• While GM (see sustainability performance) once committed to an all-electric lineup by 2035, slower-than-expected EV adoption has led the company to adjust its rollout pace based on demand
🌍 Why it matters for the planet: Cost, range, and battery materials remain key barriers to mass EV adoption
• GM's LMR technology could ease reliance on critical minerals like cobalt, often linked to environmental and human rights concerns, while reducing battery weight and complexity
If successful, it could accelerate the transition to cleaner transport — especially in hard-to-electrify segments like full-size trucks and SUVs
⏭️ What's next: GM plans to begin preproduction of the LMR cells at LG Energy facilities in 2027, with full U.S. production starting in 2028 via the Ultium Cells joint venture
• The new batteries will complement, not replace, existing pouch and LFP batteries, allowing GM to diversify its offerings across vehicle segments
• The automaker has not disclosed final costs or profit margins but suggests significant savings over current technologies, potentially enabling EV trucks with over 400 miles of range
💬 One quote: “LMR unlocks the premium range and performance at an affordable cost. It’s a game-changing battery for electric trucks.” — Kurt Kelty, GM VP of Battery, Propulsion and Sustainability
📈 One stat: GM’s new LMR prismatic batteries are projected to reduce battery pack costs by up to $45 per kilowatt-hour, compared to current GM battery technologies
See on illuminem's Data Hub™ the sustainability performance of General Motors and its peers Ford, and Stellantis
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