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

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