Volvo invests in battery technology company StoreDot

volvo-invests-in-storedot

Volvo Cars, through its venture capital arm Volvo Cars Tech Fund, has made an investment in StoreDot, an Israeli company developing extremely fast charging battery technology for electric cars.

KEY TAKEAWAYS

  • In what field does StoreDot specialize?

    StoreDot is a company that specializes in developing extremely fast-charging EV batteries.
  • How fast can StoreDot's latest charging technology recharge EV batteries?

    StoreDot's latest technology can recharge EV batteries in as fast as five minutes and give them a 160-km pure-electric range.
  • storedot-logo

    The Swedish carmaker reveals that StoreDot is working on pioneering technology that will recharge EV batteries to a state where they can cover 160 kilometers of pure-electric range after being plugged in for just five minutes. Its investment, said Volvo, will provide them the opportunity to closely work with StoreDot on this exciting new battery technology.

    The collaboration between both companies will mainly take place within the battery technology joint venture that Volvo Cars established last year with Northvolt, the leading battery maker in Sweden. With Volvo’s investment in StoreDot, the company will secure immediate access to any resulting technology from the abovementioned collaboration.

    StoreDot’s pioneering battery development is centered around a unique silicon-dominant anode technology and related software integration. It aims to develop extreme-fast charging battery technology, which closely aligns with Volvo Cars’ ambition to develop electric cars with a longer range, quicker charging, and lower costs.

    “We aim to be the fastest transformer in our industry and the Tech Fund plays a crucial role in establishing partnerships with future technology leaders. Our investment in StoreDot perfectly fits that mindset and their commitment to electrification and carbon-free mobility matches our own. We’re excited to make this a successful collaboration for both parties and work towards bringing this groundbreaking technology to the market,” said Volvo Cars Tech Fund Head Alexander Petrofski.

    Photos from Volvo and StoreDot

    Also read: 

    Volvo invests in Bcomp for sustainable lightweight materials

    Volvo to get access to car safety technology through investment in Spectralics

    Volvo Cars, Northvolt to establish new battery plant in Sweden

    Read All

    Featured Articles

    Recommended Articles For You

    Read All

    Featured Volvo Cars

    Volvo Car Articles From Zigwheels

    • News
    • Article Feature
    • Volvo announces new facility for next-gen premium EV development
      Volvo announces new facility for next-gen premium EV development
      Paulo Papa . Feb 08, 2024
    • Volvo fortifies sustainability strategy with new goals
      Volvo fortifies sustainability strategy with new goals
      Hazel Nicole Carreon . Jan 15, 2024
    • All-new Volvo EM90 to offer lounge-like experience on the road
      All-new Volvo EM90 to offer lounge-like experience on the road
      Hazel Nicole Carreon . Nov 06, 2023
    • Volvo PH electrifies local premium EV arena anew with 2 Recharge models
      Volvo PH electrifies local premium EV arena anew with 2 Recharge models
      Ruben Manahan IV . Oct 04, 2023
    • Volvo now offers Prime Video in models with Google built-in
      Volvo now offers Prime Video in models with Google built-in
      Hazel Nicole Carreon . Sep 22, 2023
    • Volvo Recharge models vs. the competition
      Volvo Recharge models vs. the competition
      Hazel Nicole Carreon . Oct 12, 2023
    • The pros and cons of Volvo Recharge models
      The pros and cons of Volvo Recharge models
      Hazel Nicole Carreon . Oct 06, 2023
    • Taking Off the Mystification Cover from All-Wheel Drive and Four Wheel Drive
      Taking Off the Mystification Cover from All-Wheel Drive and Four Wheel Drive
      Zigwheels team . Apr 21, 2016