General Motors acquires Algolion Ltd, an Israeli software startup specializing in battery problem detection. The software will enable GM to develop a cost-effective early hazard detection system for electric vehicles, a crucial aspect as the industry invests heavily in EVs and battery technology.
Algolion’s software uses data from EV battery management systems to identify anomalies and potential hazards like “thermal runaway propagation events,” which can lead to fires in EVs.
The deal comes as safety authorities push for improved battery standards in response to incidents of vehicle fires caused by defective modules.
Algolion, founded in 2014, will now be part of GM’s Technical Center in Herzliya, Israel, alongside over 850 other employees. GM’s shares rose by 1 percent in afternoon trading on the day of the acquisition announcement.