GE Accelerating Investment in Electric Car Battery Technology
NISKAYUNA, N.Y.-- General Electric Co is stepping up its investment in developing new battery technologies for autos as it looks to increase its role in electrifying cars -- one of the key strategies to boost fuel efficiency and reduce carbon dioxide emissions.
The U.S. conglomerate is working with U.S. automaker Chrysler to secure government funding to develop a system to electrify larger passenger vehicles and has raised its investment in A123 Systems Inc, which makes batteries for cars and electric devices, to $55 million.
"The trend toward electrification is pressing and inevitable," said Mark Little, senior vice president and director of GE's global research center in Niskayuna, New York.
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