<ul><li>General Motors and LG Energy Solution are collaborating on developing a new battery cell chemistry, lithium manganese iron phosphate (LMFP), aimed at reducing the cost of electric vehicles.</li><li>LMFP battery cells could make EVs more affordable by minimizing the reliance on expensive materials like nickel and cobalt, potentially bringing EV costs closer to gas-powered cars.</li><li>GM plans to incorporate these LMFP batteries into future Ultium-based EVs, such as the Chevrolet Equinox EV and Blazer EV, to make electric vehicles more accessible without compromising range or performance.</li><li>If successful, the partnership between GM and LG to develop LMFP batteries in the U.S. could significantly impact EV affordability, potentially revolutionizing the electric vehicle market by narrowing the price gap with traditional internal combustion engine vehicles.</li></ul>

Cheaper EVs ahead? GM and LG say new battery cells are the key

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