GM Invests in Mitra Chem for EV Battery Innovation

General Motors (GM) is investing $60 million in Mitra Chem, a Silicon Valley battery materials firm, aiming to expedite the automaker’s ongoing operations and accelerate the introduction of cutting-edge battery materials to the market.

"This is a strategic investment that will further help reinforce GM's efforts in EV batteries, accelerate our work on affordable battery chemistries like LMFP, and support our efforts to build a US-focused battery supply chain," says Gil Golan, Vice President of Technology Acceleration and Commercialization, GM. 

Mitra Chem specializes in AI-driven battery materials innovation. GM’s strategic move aims to facilitate the swift development of cost-effective EVs. The investment is part of a Series B financing round, solidifying Mitra Chem's growth trajectory following its initial seed funding. Series B financing indicates that a company has successfully surpassed initial startup challenges. Series B investors often acquire shares at a higher price compared to Series A investors, reflecting the company's progress and potential. This type of funding draws support from diverse sources, including private equity firms, venture capitalists, crowdfunded equity initiatives and credit investments.

GM and Mitra Chem are collaborating to develop advanced iron-based cathode materials, such as lithium manganese iron phosphate (LMFP), which will power affordable and compatible EV batteries for GM's Ultium Platform. GM's funding will aid Mitra Chem in scaling operations and expediting the introduction of its innovative battery materials to the market.

GM and Mitra Chem's R&D teams work well together, says Golan. "Mitra Chem's labs, methods, and talent will fit well with our own R&D team's work. 

The partnership aims to transform battery development for the automotive sector. "GM's investment in Mitra Chem will not only help us develop affordable battery chemistries for use in GM vehicles, but also will fuel our mission to develop, deploy, and commercialize US-made, iron-based cathode materials that can power EVs, grid-scale electrified energy storage, and beyond,” says Vivas Kumar, CEO and Co-Founder, Mitra Chem.