GM will sell its 60% stake in battery maker to Texaco.(General Motors, Texaco Inc., GM-Ovonic LLC)(Brief Article) | Automotive News | Find Articles at BNET

GM will sell its 60% stake in battery maker to Texaco.(General Motors, Texaco Inc., GM-Ovonic LLC)(Brief Article) | Automotive News | Find Articles at BNET
Automotive News
Oct 23, 2000

DETROIT - General Motors is selling its stake in a battery-making joint venture to Texaco Inc. in hopes that an energy company can lower the costs of nickel-metal-hydride batteries. GM still plans to buy batteries for future electric and hybrid vehicles from GM-Ovonic LLC, a 6-year-old venture with Ovonic Battery Co.

GM says the venture won't be able to make advanced nickel-metal-hydride batteries affordable unless it can increase production. That means gaining nonautomotive customers, said GM spokesman Jeff Kuhlman. ``General Motors is not the company to take these batteries to ...


The long lasting battery technology needed for Electric Cars exists.
GM bought CONTROLLING INTEREST in that tech from Ovonics...then SOLD IT TO BIG OIL!!!

This info was made available in"Who Killed the Electric Car?"