Alsym Energy, a seven-year-old Massachusetts startup, aims to halve the cost of electric vehicle batteries with a new design that eliminates lithium and cobalt, two increasingly costly ingredients in many current EV batteries, the company said.
One of the company’s goals is to help make EVs more affordable for a greater portion of the world’s population, a key executive said.
Alsym has partnered with one of India’s top automakers to jointly develop the new battery, Mukesh Chatter, chief executive and co-founder, said in an interview. Chatter declined to name the automaker.
India’s two largest vehicle manufacturers are Tata Motors and Mahindra and Mahindra, both of which build electric vehicles.
Alsym’s battery has the potential to be safer, more sustainable and easier to recycle because it is made with non-toxic, non-flammable materials that are readily available, said Chatter, who has a graduate degree in engineering from Rensselaer Polytechnic Institute.
