GM takes stake in battery startup Envia

- January 31st, 2011

Reuters reports that General Motors Co (NYSE:GM) has invested $7 million in Envia Systems that has been developing more powerful and cheaper batteries for electric vehicles.

Reuters reports that General Motors Co (NYSE:GM) has invested $7 million in Envia Systems that has been developing more powerful and cheaper batteries for electric vehicles.

The market news is quoted as saying:

Newark, California-based Envia has developed cathode technology for lithium-ion batteries that it says will improve power storage for electric cars, addressing the problems of limited driving range and high costs.

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