@GM: General Motors Acquires Battery Software Startup ALGOLiON

General Motors Acquires Battery Software Startup ALGOLiON

2023-06-30


DETROIT, HERZLIYA and REHOVOT, ISRAEL – General Motors Co. (NYSE: GM) announced today that it has acquired substantially all the assets of Israel-based battery software startup ALGOLiON Ltd. for an undisclosed sum.

The acquisition was led by the newly formed Technology Acceleration and Commercialization (TAC) organization, a group within GM that works to identify emerging technology that can support GM’s leadership position in battery development through investments, acquisitions or partnerships.

ALGOLiON, which received early support from the Israeli Innovation Authority, was founded in 2014 by Niles Fleischer, Ph.D., and Alex Nimberger, Ph.D. The company has developed sophisticated software that uses data streams from EV battery management systems to help identify anomalies in cell performance to ensure proper vehicle health management and provide early detection of battery hazards including thermal runaway propagation events. Dr. Fleischer has more than 40 years of experience in the battery industry and more than 80 patents in the field, while Dr. Nimberger has deep military and civilian experience in all aspects of lithium-ion battery operating modes and effects analysis.

ALGOLiON’s software, coupled with GM’s internal capabilities and vast experience in delivering best-in-class products at scale, can greatly accelerate time-to-market of a cost-effective early hazard detection system for the benefit of millions of GM’s customers worldwide.  

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

“The ALGOLiON team is excited to join GM on its track to an all-electric vehicle future,” said Fleischer. “We found the right home for our technology to play an integral role in maintaining healthy batteries for exciting products and reach customers globally.”

The software uses sophisticated algorithms to identify miniscule changes that could impact battery health weeks earlier than other methods in use today without additional hardware or sensors all while the battery is still operating properly.  

ALGOLiON employees, including the company’s founders, will remain based in Israel and join more than 850 employees at the GM Technical Center in Herzliya, Israel. The team will be led by Guy Daniely, senior engineering manager.

GM Israel is an integral part of GM’s Global Product Development Group, working on key vehicle programs toward GM’s vision for a future of zero crashes, zero emissions and zero congestion. 

The Israeli center specializes in advanced technologies including software and algorithms, machine learning, Software Defined Vehicles, cyber security and user-facing applications for autonomous, electric and connected vehicles that are shaping the future of mobility.

General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, CadillacBaojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.

Cautionary Note on Forward-Looking Statements: This press release and related comments by management may include “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact and represent our current judgement about possible future events. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgements are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of important factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law.

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