General Motors has invested $10 million into Forge Nano to develop Atomic Armor, a coating that enhances the performance and longevity of EV battery cells.
This partnership signifies GM's shift away from a single-cell battery strategy to a more diverse multi-supplier, multi-chemistry approach for its EV battery roadmap.
Despite a 60% year-over-year growth in EV sales, GM's overall EV market penetration remains low, with expectations of only 200,000 EVs sold in 2024.
GM Ventures is dedicated to supporting startups, having invested $167 million in 18 companies within the electrification and battery space, strengthening their strategic partnerships.
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