GM’s new EV battery tech will cut costs without sacrificing performance or range

GM is developing a new type of electric vehicle battery called LMR, short for lithium manganese rich, that promises more range for the money. The company says these cells can store 33% more energy than today's affordable option, lithium iron phosphate batteries, while costing about the same. GM plans to build the cells at a plant in Spring Hill, Tennessee, which it says will be the first in the world to mass-produce this battery type. Upgrades to the plant start later this year and should finish by 2028, adding 500 jobs.

This matters most for anyone eyeing a future electric truck or large SUV from GM. The company plans to use the new batteries in upcoming electric trucks and full-size SUVs, aiming for more than 400 miles of range per charge. The first vehicle with this battery is expected in 2028. For comparison, GM's current longest-range EV, the Chevrolet Silverado EV, uses a different, more expensive battery type and gets up to 478 miles of range, starting at $55,895.

There's no news here about rebates or incentives for homeowners, and nothing about home charging equipment. This is really about GM's manufacturing plans and battery costs, which could eventually mean more affordable long-range electric trucks and SUVs on the market in a couple of years. If you're planning a home charging setup for a future EV, it doesn't change anything about that decision today, but it's a sign of where battery costs and range may be headed for larger electric vehicles.