GM targets lower EV costs with new battery center

General Motors is launching a $900 million initiative centered on a new Battery Cell Development Center in Detroit. The facility is designed to bridge the gap between research and development and full-scale production. According to Kurt Kelty, GM’s vice president of battery and sustainability, the automaker is banking on lithium-manganese-rich (LMR) batteries to preserve vehicle range while slashing production costs. As a result of this new chemistry, Kelty noted that the Chevrolet Silverado EV could become $6,000 cheaper.

In broader mobility developments, aerospace company SpaceX has filed an S-1 document—the registration form required for an initial public offering—indicating that it “may issue a significant amount of equity in connection with future transactions.” The company is expected to raise $75 billion, a move that could impact shareholders of Tesla, which is viewed as a potential acquisition target.

The mobility and defense sectors in the US, Poland, Ukraine, and Africa also saw significant transaction activity:

• Mach Industries: The US defense tech startup raised a $300 million Series C funding round at a $1.8 billion valuation.
• Spiro: The African electric mobility startup raised $215 million in a funding round that pushed its valuation close to $1 billion.
• Layup Parts: The startup raised $42 million in a Series A funding round.
• Molfar Defence Technologies: The Polish-Ukrainian defense startup closed the first tranche of its €2 million funding round, with investor Front Ventures committing €1.5 million.
• Slate Auto: Online car retailer Carvana has been granted the option to invest in the electric vehicle startup, which is backed by Jeff Bezos.

Operational updates across the autonomous vehicle and electric mobility sectors include:

• Avride: The autonomous vehicle startup has completed 60,000 trips for Uber riders since launching in December, with its fleet driving more than 1.3 million miles.
• Waymo: One of the operator’s robotaxis was used in a burglary. Separately, the company partnered to use retired batteries to support electricity grids in California and Texas.
• Uber: The ride-hailing platform plans to deploy 500 data-collection vehicles this year under its new AV Labs division.
• Lectric eBikes: The manufacturer has invested about $10 million into launching its third brand in six months.
• Woven Capital: Toyota’s growth fund, which launched its $800 million fund II in September 2025, promoted Jarek Khoilian and Manas Punhani to principals.
• Subaru: The 2026 Solterra EV starts at $38,495, featuring 233 horsepower (388 horsepower for the XT trim) and an integrated North American Charging Standard (NACS) port. Its range improved to an EPA-estimated 288 miles—an increase of more than 50 miles despite a battery capacity increase of only 2 kWh—and includes a wireless 15 W smartphone charger.
• Ferrari: The upcoming Luce EV, which some observers suggest might become a ragebait purchase for wealthy buyers, continues to draw industry attention.

Why it matters

GM’s $900 million investment in its Detroit Battery Cell Development Center aims to bridge the gap between research and full-scale production. This initiative is intended to reduce production costs for future electric vehicles while preserving their driving range.