General Motors

Peak Energy closed a $108 million Series B led by GM Ventures; its 4-GWh sodium-ion battery factory in Sacramento is due to start production in early 2027.

General Motors acquires Algolion, an Israel-based software startup developing software that can detect potential hazards in battery cells. Algolion's software uses data-streams to identify abnormalities in cell performance, and GM has created a new organization to lead the acquisition and scout out emerging battery technology.

General Motors invests $650 million in lithium mining to secure its electric vehicle supply chain and support its future production of more than 1 million EVs annually in North America by 2025.

The funds will certainly be made use of in the building of three various battery manufacturing units in the United States state of Ohio, Tennessee and also Michigan. Both General Motors and LG have been mulling an investment of over $7 billion in collaboration to develop the 3 battery producing units.