Bitcoin Miners Turn to AI and Strategic Mergers as Halving Pressures Profitability: CoinShares Report 
Toyota Reports Continued Decline in Global Production and Sales for September 
Shiba Inu Surges as 39 Million SHIB Burn Sparks 10% Price Jump in 24 Hours 
Shiba Inu's 88.9 Trillion Sell Wall Threatens Price Rally—Can SHIB Break Through? 
EU Raises Tariffs on Chinese EVs to 45.3% Amid Rising Trade Tensions 
China's Manufacturing Rebounds in October Amid New Economic Stimulus 
Bank of Japan’s Interest Rate Decision: What to Expect Amid Political Shifts 
Samsung Electronics Refocuses on High-End Chips Amid Profit Dip and AI Demand 
Thailand's Economic Growth Projections for 2025: A Positive Outlook 
Fed's Evolving Role: Balancing Market Stability and Moral Hazard 
Xiaomi SU7 Ultra Makes EV History at Nürburgring, Leaving Porsche and Tesla in Its Dust 
Asian Markets Retreat Amid U.S. Election Uncertainty and Economic Data Focus 
China’s Non-Manufacturing Activity Rises in October, Easing Economic Concerns 
Bitcoin’s 'Golden Cross' Hints New All-Time Highs as Retail Demand Surges 
Toyota and Suzuki’s First All-Electric SUV Hits Global Markets in 2025: Here’s What’s Coming 
Bitcoin Eyes $123K as Zeberg Highlights Key Fibonacci, RSI, and MACD Signals 
General Motors made the decision to invest in a California-based startup called Mitra Chem. The automaker will spend about $60 million in financing for the said firm that develops cheaper batteries for electric vehicles.
General Motors is investing in Mitra Chem to help it produce better EV batteries that are more affordable too. On Wednesday, Aug. 16, the company confirmed that it is leading a $60 million financing round for the startup.
According to CNBC, Mitra Chem was established by Toyota Motor and Tesla Inc veteran executives. The founders are working together to develop lower-cost EV batteries. These new types are said to be made based on lithium iron phosphate chemistry.
Moreover, the battery is called LFP, and this abbreviation was formed based on the chemical symbols of the elements that make up the product. Lowering the price for such kind of battery is possible because Mitra Chem is not using expensive minerals that are commonly used by other battery makers such as nickel and cobalt.
The LFP cells are also used by major EV makers for their cheaper electric car models. Although their power density is lower compared to expensive batteries, these types of cells were already proven to be sturdy in EVs.
“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 U.S.-focused battery supply chain,” General Motors’ vice president of technology acceleration, and commercialization, Gil Golan, said in a press release. “GM is accelerating larger investments in critical subdomains of battery technology, like cell chemistry, components, and advanced cell production processes. Mitra Chem’s labs, methods and talent will fit well with our own R&D team’s work.”
