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Not long ago, Envia Systems' innovative battery looked like it would break barriers. The "High Capacity Manganese Rich (HCMR)" technology was supposed to provide General Motors with an affordable battery that could power the next-generation Chevy Volt and move other, pure EVs at least 200 miles on a single charge. Now, though, the Silicon Valley-based company looks more like the latest cautionary tale for anyone trying to successfully enter the lithium battery and electric vehicle space.

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