Mass High Tech reports that General Electric is dipping a toe in the electric car business, investing $4m in electric automobile maker Th!nk and another $20m in A123 Systems, the MassiveTaxes-based battery company. The announcement comes as the formerly Ford-owned Norwegian EV manufacturer unveils its new Ox crossover in Geneva. GE states it plans on opening a new research center in upstate New York, where it will work with A123 to develop high-capacity, lithium-ion batteries for electric and hybrid automobiles. Last year, A123 received a $15m contract for next-generation vehicle batteries from the U.S. Advanced Battery Consortium (Chrysler, GM and Ford) and a contract to supply batteries for the Saturn Vue Green Line plug-in program. It's good to see investment in homegrown battery development that's a little more sophisticated than just strapping a bunch of laptop batteries together.
[Source : The Truth About Cars]
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