Envia Systems, based in California, may have achieved a fundamental breakthrough in electric vehicle battery technology.
The firm, which is backed by General Motors (NYSE: GM), has developed a high-density lithium ion battery that has GM looking at 100- to 200-mile cars within the next two years.
“I think we’ve got better than a 50-50 chance to develop a car that will go to 200 miles on a charge,” he [Envia CEO Dan Akerson] said. “That would be a game changer.”
The Chevrolet Volt, GM’s current electric model, goes a mere 35 all-electric miles on a single charge, and it reverts to a small gasoline motor after that. Tesla’s (NASDAQ: TSLA) Model S can command 300 miles on a charge, but it uses an enormous battery and costs accordingly. Nissan’s Leaf and Ford’s (NYSE: F) Focus electric, however, both advertise ranges of 100 miles per charge.
Envia proposes reducing electric vehicle prices by lowering battery costs by nearly half. The company received $7 million in funding from GM back in January of last year.
According to Akerson, the company is also looking at other sectors, like hybrids, natural gas vehicles, and conventional petroleum-powered engines, to make them more efficient.
This Battery Could TRIPLE the Chevy Volt's Range originally appeared in Energy and Capital. Energy and Capital, a free daily newsletter, offers practical investment analysis in the new energy economy.