GM Ventures, General Motors Co.'s investment arm, has made a strategic investment in Canada-based Lithion Recycling Inc.'s Series A financing round to support a new strategic partnership between the companies.
The partnership will focus on validating Lithion's recovered battery materials for new batteries and include a joint investment in R&D for recycling processes and the recyclability of future battery design.
Experts say battery recycling is essential for the electric-vehicle transition since the raw materials needed aren't available to meet expected demand. Automakers have made partnerships with battery recyclers to reduce waste and alleviate stress on the supply chain, which will aid in the effort to lower EV production costs.
