GM Really Wasn’t Kidding About Those New LMR EV Batteries

General Motors is moving ahead with a new type of EV battery meant to bring down the cost of electric vehicles. The company just announced it will upgrade its Ultium Cells battery plant in Spring Hill, Tennessee, to produce cells using a formula called LMR, short for lithium manganese-rich. Manganese is cheaper and more abundant than the materials used in many current EV batteries, and GM says the new cells offer 33% better energy density than the low-cost LFP (lithium-iron-phosphate) batteries already used in some EVs and home energy storage systems, at a similar price. GM is aiming to be the first automaker to put LMR batteries into production vehicles, with commercial output expected by 2028.

For homeowners, this matters mainly if you are thinking about buying or leasing an EV in the next few years. GM says LMR batteries are meant for models where affordability matters most, while its existing high-nickel batteries will still be used in vehicles built for longer range. The company's pricier NMC (nickel-manganese-cobalt) batteries aren't going away, but LMR is meant to widen the lower end of the EV market. GM has put a combined $2 billion toward LFP and LMR battery development through 2030.

None of this changes today's EV tax credits or rebates, since the federal $7,500 EV credit was already eliminated last year. But if cheaper batteries do reach showrooms, it could mean lower sticker prices on some future GM electric models, which is worth watching if an EV purchase is part of your longer-term home energy plans.