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GM says 400-mile range EVs are on the way after a battery breakthrough

General Motors announced plans today to start commercial production on EV batteries that will allow for about 400 miles of range on a single charge — and cost less — by 2028.

Together with its partner LG Energy Solution, the automaker will use lithium manganese-rich (LMR) battery cells in its full-size EVs.

LMR batteries have existed for decades, but automakers have avoided their use in commercial vehicles because they typically have a shorter lifespan. GM believes it has solved that issue.

In late April, a Ford exec announced a similar LMR breakthrough via a LinkedIn post. Ford didnt get as specific with timelines, instead saying its batteries will arrive by the end of the decade.

CATL, an EV battery supplier for GM, Tesla, and other major automakers also recently touted battery advances. Those breakthroughs include added cold resistance and a battery with a 320-mile range that charges in five minutes.

LMR batteries have existed for decades, but automakers have avoided their use in commercial vehicles because they typically have a shorter lifespan. GM believes it has solved that issue.

In late April, a Ford exec announced a similar LMR breakthrough via a LinkedIn post. Ford didnt get as specific with timelines, instead saying its batteries will arrive by the end of the decade.

CATL, an EV battery supplier for GM, Tesla, and other major automakers also recently touted battery advances. Those breakthroughs include added cold resistance and a battery with a 320-mile range that charges in five minutes.

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Premium seats help push airlines higher following third-quarter results

Shares of American Airlines are climbing toward the carrier’s best trading day since August 12, when ultra-budget rival Spirit issued its initial warning about its ability to survive. American’s shares are up more than 7% on Friday afternoon.

Investors’ optimism comes a day after American posted a better-than-expected full-year earnings forecast. In a call with investors, American said that it’s ramping up its premium cabin offerings.

“Our ability to grow capacity in premium markets will be further supported as we take delivery of new aircraft and reconfigure our existing fleet. These efforts will allow us to grow our premium seats at nearly two times the rate of main cabin seats,” CEO Robert Isom said. American CFO Devin May said that nose-to-tail retrofits of certain wide-body jets will bump the number of premium seats available on those planes by 25%.

Extra legroom has been a boon for major carriers, particularly this quarter. Delta Air Lines said its premium product revenue grew 9% in Q3, compared to a 4% drop in economy seat revenue. Similarly, United Airlines said its premium revenue grew 6%, outpacing economy. Shares of both airlines were up more than 3% on Friday.

Carriers with less exposure to first- and business-class tickets like Southwest Airlines and JetBlue didn’t see the same amount of momentum on the day.

Ford plant Cologne

Ford rallies to 52-week high: Wall Street is optimistic about its EV reset and aluminum plant recovery plan

Ford shares reached their highest level since July 2024 in Friday morning trading.

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