GM will discontinue the Ultium battery brand name as it looks to expand the types of cells and chemistries it uses in its electric vehicles.

During an investor event today, Kurt Kelty, GM’s VP of batteries and a former Tesla executive, announced plans to adopt lithium iron phosphate (LFP) battery technology in order to decrease the cost of its EVs by “up to $6,000.” GM’s Ultium batteries use the more common nickel cobalt manganese (NCM) batteries.

Some automakers are using LFP-based…