GM signs deal with MIT-spinout to reduce electric vehicle battery costs by 60%
March 11, 2021In the media
SolidEnergy Systems, a spinout of MIT, and General Motors will jointly develop next-generation electric vehicle batteries, featuring lithium metal instead of lithium-ion, that are expected to cut the cost of the technology by 60%.
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The Trump administration recently scaled back fuel efficiency standards for automobiles, which are meant to reduce gasoline consumption and speed the shift to electric vehicles. Economists have disputed the calculations behind this decision, including Christopher Knittel (MIT Sloan), who said, “If you do the analysis right, we found that revoking these standards does not save consumers money.”