GM Strengthens EV Battery Safety with Algolion Acquisition, To Transform EV Performance

General Motors Co GM snapped Algolion, an Israel-based software startup that can detect potential hazards in battery cells.

The financial terms of the deal remain undisclosed, TechCrunch reports.

Algolion's six employees, including the company's founders, will remain based in Israel and join over 850 employees at the GM Technical Center in Herzliya, Israel.

Niles Fleischer and Alex Nimberger co-founded the 9-year-old startup, which developed software that uses data streams from EV battery management systems to help identify anomalies in cell performance. 

Also Read: Volkswagen May Join Other Players - It's In Talks with Tesla to Adopt North American Charging Standard

The software can help detect battery hazards, including thermal runaway propagation events.

"Algolion has developed cutting edge battery analytics and prediction software that will help General Motors deliver great performing EVs for our customers," TAC vice president Gil Golan said.

Due to battery fire risk, GM issued two recalls for thousands of Chevrolet Bolt EVs. GM ended up halting production of the vehicles at its Orion assembly plant in Michigan.

GM sent replacement battery modules to dealers, where owners with recalled Chevy Bolts could swap old modules with new ones. The production pause stretched on for months due to supply chain problems. GM restarted production in April 2022.

GM held $28.2 billion in cash and equivalents as of March 31.

Price Action: GM shares traded higher by 1.11% at $38.63 on the last check Friday.

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