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IBM Working On Car Super-Battery

IBM (NYSE:IBM)’s EV battery project has welcomed new materials partners.

IBM Working On Car Super-Battery

IBM (NYSE:IBM) has announced that two new companies will join join its ‘Battery 500 Project’ that aims to develop a new lithium-air battery technology capable of powering an electric car for about 500 miles (800km) on a single charge.

Asahi Kasei and Central Glass are the new partners and they will collaborate on research with the potential to accelerate the switch from gasoline to electricity as the primary power source for vehicles.

Winfried Wilcke, IBM (NYSE:IBM) principle investigator, said that, “The new partners share the company’s vision of electric cars being critical components of building a cleaner, better world, which is far less dependent on oil. Their compatible experience, knowledge and commitment to bold innovation in electric vehicle battery technology can help us transfer this research from the lab onto the road”.

IBM (NYSE:IBM) shares were at 199.60 at the end of the last day’s trading. There’s been a 5.9% change in the stock price over the past 3 months.

IBM Working On Car Super-Battery
IBM (NYSE:IBM) Analyst Advice
Consensus Opinion: Hold
Mean recommendation: 2.05
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.95
Zack’s Rank: 3 out of 20 in the industry

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