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GM Puts a Charge in Auto Show
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The auto industry has placed its bets on lithium-ion batteries. The batteries are already under the hoods of many of the concept cars at the auto show.
But, while lithium-ion technology is widely used in laptops and cellphones, it has taken years for it to be tested and vetted for use in automobiles. As a result, Asian companies specializing in consumer electronics, such as Panasonic, have significant leads, analysts said. LG Chem beat out A123 Systems of Watertown, Mass., for GM's battery partnership.
To promote additional advancements in battery technology, GM said it would also open a 31,000-square-foot automotive battery lab in Michigan and partner with the University of Michigan's engineering college to train automotive battery engineers. The location of the lab has yet to be decided. GM also hopes to accelerate its in-house battery development by increasing its electric vehicle staff to several hundred engineers this year.
To date, GM has invested more than $1 billion in the Volt, a car that will be able to travel 40 miles on a single charge. The automaker plans to sell its first generation of the plug-in for $30,000 to $40,000.
Lutz said GM would be open to selling Volt's battery packs to competitors in the future.
"Since we already sell other people engines and transmissions, there's no reason why we wouldn't sell other people battery packs," he said.
GM's investment comes as it is experiencing considerable financial hardship. But Beth Lowery, GM vice president of environment, energy and safety policy, said the automaker's success is ultimately tied to advanced technology particularly the Volt and car batteries.
"You can't afford not to invest in things that are critical to the company," she said.
