General Motors Co is among the investors in a North Carolina startup developing fast-charging lithium-metal batteries for future electric vehicles, the companies said Thursday.
Two-year-old Soelect announced a Series A raise of $11 million from GM Ventures, KTB Network and Lotte Ventures, an affiliate of Korea’s Lotte Chemical.
Based in Greensboro, Soelect was founded in 2020 by Jin Cho, a 25-year battery veteran who has worked previously with LG, Samsung and Johnson Controls.
Cho said Soelect has more than 20 customers, mostly in the automotive industry.
GM’s interest in Soelect dovetails with its previous investment in and strategic partnership with Massachusetts battery startup SES, which is scheduled to go public this year.
