General Motors Races Tesla to Build a Million-Mile Battery

Five years ago, for example, Tesla (NASDAQ: TSLA) set itself the goal of developing an electric car battery that lasts 1 million miles before it needs to be replaced, while General Motors (NYSE: GM) focused on getting its battery cost down below $100 per kilowatt-hour. To date, Tesla has been considered the company most likely to reach both of those goals first. As Reuters reports today, GM Executive Vice President Doug Parks has confirmed that GM is aiming to ratchet up the reliability on its new Ultium large-cell battery, to the point where it can claim 1 million miles in total lifespan, and the company is "almost there" on that goal.