General Motors Co. GM has announced the development of a revolutionary EV battery technology, aiming to secure a leading position in the market with its cost-effective solution for large electric SUVs and trucks.\n\nWhat Happened: GM is spearheading a unique EV battery technology that is set to reduce costs and boost the profitability of its largest electric vehicles. The new lithium manganese-rich (LMR) prismatic battery cells are anticipated to be integrated into full-size electric vehicles, such as the Chevrolet Silverado and Escalade IQ, beginning in 2028, reported CNBC.\n\nThe innovative batteries employ more abundant and less expensive minerals such as manganese, replacing larger quantities of cobalt and nickel used in EV batteries at present. This shift in battery chemistry influences several factors, including the range, safety, energy efficiency and charging capabilities of EVs.\n\n“LMR unlocks the premium range and performance at an affordable cost,” stated Kurt Kelty, the vice president of battery, propulsion, sustainability at General Motors. He further described it as a “game-changing battery for electric trucks.”\n\nGM is developing its new battery technology in collaboration with LG Energy Solution. Ultium Cells, the joint venture, aims to begin commercial production of LMR prismatic cells in the U.S. by 2028, with preproduction set to start at an LG Energy Solution facility by late 2027.\n\nWhy It Matters: This announcement comes at a critical time for GM. Earlier in May, the company had to revise its 2025 forecast due to tariff uncertainty, impacting its estimated earnings by $4.0 billion to $5.0 billion. \n\nFurthermore, the federal EV credit program, a significant incentive for EV buyers, is under threat of being eliminated by House Republicans. In this context, GM’s new battery technology could be a game-changer, potentially reducing costs and increasing the appeal of its EVs, thereby boosting sales and offsetting these challenges.\n\nIn March, a Reuters report revealed that Hyundai Motors and General Motors are nearing a deal where Hyundai would supply two electric commercial van models to GM, while GM may provide pickup trucks for Hyundai to sell under its brand in North America. The talks could lead to a broader partnership, including joint efforts in chip procurement, next-gen batteries and battery materials.

GM's New Battery Chemistry Aims To Slash EV Costs And Deliver Affordable High-Performance Electric Trucks

General Motors has announced a new lithium manganese-rich (LMR) battery technology to reduce EV costs and improve performance for electric trucks and SUVs. The technology, developed in collaboration with LG Energy Solution, aims to begin commercial production in the U.S. by 2028. The announcement comes amid GM's 2025 forecast revisions and threats to the federal EV credit program.