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DETROIT (Reuters) - General Motors Co and Swiss power engineering firm ABB announced on Tuesday they have agreed to work on a project to use lithium-ion batteries from Chevy Volts to store power for electricity grids after they are done powering cars.

"The Volt's battery will have significant capacity to store electrical energy, even after its automotive life," said Micky Bly, GM's director of electrical systems, hybrids, electric vehicles and batteries.

GM has an eight-year, 100,000-mile warranty on the lithium-on batteries for Volts.

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