Ford Motor (F), General Motors (GM), Chrysler Award $8.4 Million to Battery Research Group

Ford Motor (NYSE:F), General Motors (NYSE:GM), Chrysler Group awarded $8.4 million to SB LiMotive for the development of high-density battery cells for next-generation car batteries.

The award comes via the U.S. Advanced Battery Consortium LLC, a research collaboration between Ford Motor Co., General Motors Co. and Chrysler Group LLC. The award was made in partnership with the U.S. Department of Energy.

The stated objective is to develop batteries for electric car which will be a lot more attractive to consumers, who aren't interested in the weak electric car products made at this time by the industry.

Cobasys, a subsidiary of SB LiMotive, has been given three years to put together a battery system which will increase battery-pack density by 50 percent.