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GE’s New Battery Research Could Drive Tesla Farther Read More At Investor’s Business Daily

General Electric (GE) and Lawrence Berkeley National Laboratory are developing a new water-based battery that could provide an upgrade to electric cars like Tesla’s (TSLA) Model S and Nissan’s (NSANY) Leaf and even reduce their price tags.

The proposed battery uses water-based solutions of inorganic chemicals that would provide high-energy density and make energy discharge and recharge safer, GE said. A short video of the technology can be seen here.

“Our flow battery could be just one-fourth the price of car batteries on the market today, while enabling roughly three times the current driving range. The DOE wants a battery that can power a car for 240 miles; we think we can exceed that,” said GE’s Grigorii Soloveichik, the project leader, in a statement.

GE shares rose 0.4% in the stock market today. Tesla shares were flat. GM shares were up nearly 1%, and Nissan shares dipped 0.4%.

High-end Tesla S Model batteries can go up to 265 miles per charge in normal driving conditions but other, cheaper cars don’t get the same mileage.

Leaf cars can go 75 miles and General Motors’ (GM) Chevy Volts can only go 38 miles relying on battery power alone.

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