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Globe and Mail
16-05-2025
- Automotive
- Globe and Mail
GM's New LMR Battery Could Change the Game: Is it Ready to Lead?
General Motors GM is setting the stage for a big leap in EV battery innovation. The company just revealed plans for a new lithium manganese-rich (LMR) battery technology that could dramatically lower costs and boost the performance of its largest electric vehicles (EVs). If all goes according to plan, GM could become the first automaker to bring LMR prismatic battery cells to market — a move targeted for 2028. These new batteries are designed for GM's full-size electric trucks and SUVs like the Chevrolet Silverado EV and the Cadillac Escalade IQ. The LMR chemistry swaps out pricey materials like nickel and cobalt for more common and affordable manganese. This shift not only cuts raw material costs but could also help GM improve the range and weight efficiency of its EVs. GM claims that LMR batteries offer 33% higher energy density than today's top lithium iron phosphate (LFP) cells, all while maintaining comparable costs. This means more miles per charge without driving up sticker prices. Production is already on the horizon. Ultium Cells, GM's joint venture with LG Energy Solution, aims to begin preproduction in late 2027 and full commercial production in 2028. It's all part of GM's broader push to scale its Ultium platform and improve EV profitability. But GM isn't the only auto giant chasing this battery breakthrough. Ford F is also in the race, and it's moving fast. Last month, the company announced that it is developing its own LMR battery chemistry at its Ion Park R&D center in Michigan. Ford has already begun pilot production of second-generation cells and aims to roll out LMR-powered EVs before the decade ends. Ford sees LMR as the 'what's next' solution following its current use of nickel-manganese-cobalt (NMC) and LFP batteries. The company believes the chemistry could unlock longer-range, lower-cost EVs, especially crucial for scaling up mass-market adoption. Tesla TSLA, meanwhile, planted early seeds in this space. CEO Elon Musk floated the idea of high-manganese batteries as far back as 2020 during Tesla's 'Battery Day.' At the time, he said Tesla aimed to create cathodes with one-third manganese content to stretch its nickel supply further. Tesla holds patents related to LMR chemistry, but it is yet to share firm production plans. GM looks set to be the first to market with LMR batteries, Ford is close behind, while Tesla's earlier concepts still await a clear update. The Zacks Rundown for General Motors Shares of General Motors have lost around 6% year to date compared with the industry's decline of 13%. From a valuation standpoint, GM trades at a forward price-to-earnings ratio of just 5.28, significantly below the industry. It carries a Value Score of A. Image Source: Zacks Investment Research The Zacks Consensus Estimate for GM's 2025 sales and EPS implies a 6% and 12% decline, respectively, year on year. Estimates have been southbound over the past 30 days for the current and next quarter, as well as for 2025 and 2026. GM stock currently carries a Zacks Rank #5 (Strong Sell). You can see Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ford Motor Company (F): Free Stock Analysis Report General Motors Company (GM): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report This article originally published on Zacks Investment Research (
E&E News
14-05-2025
- Automotive
- E&E News
General Motors pays off DOE loan for EV battery project
The Department of Energy announced Tuesday the early repayment of a loan it had made to a major electric vehicle battery project. Ultium Cells, a joint venture between General Motors and South Korea's LG Energy Solution, has paid off the loan it received to manufacture lithium-ion batteries in Ohio and Tennessee. The move means those projects are no longer subject to the onerous requirements and check-ins that come with federal loans. GM telegraphed the early repayment earlier this month, telling investors on a phone call that it would loan Ultium $1.8 billion to pay off the federal loan. That essentially shifted the debt to GM's balance sheet. Advertisement The joint venture's 'simplified capital structure will allow it to grow and evolve with even greater flexibility,' Paul Jacobson, GM's chief financial officer, said on the call.
Time of India
14-05-2025
- Automotive
- Time of India
GM, LG to make new, low-cost batteries for future e-vehicles
General Motors and battery partner LG Energy Solution are planning to start commercial production of lower-cost cells for future electric vehicles at a US facility starting in 2028, the companies said on Tuesday. The cells will have a lithium manganese-rich (LMR) chemistry, which GM says is lower cost than the nickel-rich cells used today, but will still give customers the range they want in future electric trucks and full-size SUVs. The cells will also be prismatic versus the current pouch structure, reducing the number of parts in the battery pack by more than 50per cent, according to GM. The Detroit automaker, which now has 12 electric vehicles in its lineup, is trying to lower its battery costs to enable cost parity with its gas-powered products by adding new types of cells and chemistries in those cells. "We're adopting flexible chemistries for the best balance of range, performance and affordability," said Kurt Kelty, GM's vice president of battery, propulsion and sustainability during a media briefing on the announcement. "My mission here is to get as many EVs on the road as possible. We need to get price parity with (internal combustion engine vehicles) and then this thing's just going to take off." The LMR cells will be made at one of the two LG-GM joint-venture Ultium Cells battery plants the companies have in Ohio and Tennessee. With the LMR prismatic cells, GM expects to offer more than 400 miles of range in a single charge on an electric truck, "while significantly reducing our battery costs," Kelty said. GM is expecting to reduce its battery pack costs by $30 per kilowatt-hour in 2025, but it hasn't said how much its per-kilowatt-hour costs are. GM is also planning to offer vehicles with lithium-iron phosphate-based cells that are also lower cost than the nickel cells. Kelty said GM will release more information soon.
Time of India
13-05-2025
- Automotive
- Time of India
GM, LG to make new, low-cost batteries for future e-vehicles
Detroit: General Motors and battery partner LG Energy Solution are planning to start commercial production of lower-cost cells for future electric vehicles at a US facility starting in 2028, the companies said on Tuesday. The cells will have a lithium manganese-rich (LMR) chemistry, which GM says is lower cost than the nickel-rich cells used today, but will still give customers the range they want in future electric trucks and full-size SUVs. The cells will also be prismatic versus the current pouch structure, reducing the number of parts in the battery pack by more than 50%, according to GM. The Detroit automaker, which now has 12 electric vehicles in its lineup, is trying to lower its battery costs to enable cost parity with its gas-powered products by adding new types of cells and chemistries in those cells. "We're adopting flexible chemistries for the best balance of range, performance and affordability," said Kurt Kelty, GM's vice president of battery, propulsion and sustainability during a media briefing on the announcement. "My mission here is to get as many EVs on the road as possible. We need to get price parity with (internal combustion engine vehicles) and then this thing's just going to take off." Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Car Novels The LMR cells will be made at one of the two LG-GM joint-venture Ultium Cells battery plants the companies have in Ohio and Tennessee. With the LMR prismatic cells, GM expects to offer more than 400 miles of range in a single charge on an electric truck, "while significantly reducing our battery costs," Kelty said. GM is expecting to reduce its battery pack costs by $30 per kilowatt-hour in 2025, but it hasn't said how much its per-kilowatt-hour costs are. GM is also planning to offer vehicles with lithium-iron phosphate-based cells that are also lower cost than the nickel cells. Kelty said GM will release more information soon. Live Events
TimesLIVE
13-05-2025
- Automotive
- TimesLIVE
GM and LG to pioneer new, lower-cost battery cells for future EVs
General Motors and battery partner LG Energy Solution are planning to start commercial production of lower-cost cells for future electric vehicles (EVs) at a US facility starting in 2028, the companies said on Tuesday. The cells will have a lithium manganese-rich (LMR) chemistry, which GM says is lower-cost than the nickel-rich cells used today, but will still give customers the range they want in future electric trucks and full-size SUVs. The cells will also be prismatic vs the pouch structure, reducing the number of parts in the battery pack by more than 50%, according to GM. The Detroit carmaker, which now has 12 EVs in its line-up, is trying to lower its battery costs to enable cost parity with its petrol-powered products by adding new types of cells and chemistries in those cells. 'We're adopting flexible chemistries for the best balance of range, performance and affordability,' said Kurt Kelty, GM's vice-president of battery, propulsion and sustainability during a media briefing on the announcement. 'My mission is to get as many EVs on the road as possible. We need to get price parity with [internal combustion engine vehicles] and then this thing's going to take off.' The LMR cells will be made at one of the two LG-GM joint-venture Ultium Cells battery plants the companies have in Ohio and Tennessee. With the LMR prismatic cells, GM expects to offer more than 644km of range in a single charge on an electric truck, 'while significantly reducing our battery costs', Kelty said. GM is expecting to reduce its battery pack costs by $30 (R551) per kWh in 2025, but it hasn't said how much its per kWh costs are. GM is also planning to offer vehicles with lithium-iron phosphate-based cells that are also lower cost than the nickel cells. Kelty said GM will release more information soon. While GM aims to be the first carmaker to commercially deploy LMR batteries in its EVs, crosstown rival Ford Motor is also working on deploying the technology, according to a recent blog its director of electrified propulsion engineering wrote on LinkedIn.
