GM invests in Series A round of car battery recycling startup Lithion Recycling

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General Motors Co. GM, -0.44% said Thursday that its GM Ventures unit made a strategic investment in Lithion Recycling Inc.’s Series A financing round. The companies did not disclose the dollar amount of the investment. Montreal-based Lithion Recycling has developed technology that allows up to 95% of battery components to be recovered and treated to be used again by battery manufacturers. Next year, Lithion plans to launch its first commercial recycling operation, to be followed by the launch of its first hydrometallurgical plant in 2025. GM said the investment entails research and development for both recycling processes and recyclability of future battery design. Shares of GM are down 35.7% in 2022 compared to a loss of 20.5% by the Dow Jones Industrial Average DJIA ، +0.09%.

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