Volvo has just announced a major investment in Israel’s StoreDot for research into superfast battery charging technology for electric vehicles.
StoreDot claims the technology it develops can do superfast charging in just five minutes which can be used to drive up to 100 miles (160 km). This technology is seen as having major benefits for Volvo’s upcoming line of electric vehicles.
With the investment from Volvo, StoreDot hopes to accelerate the marketing of their product and put it into mass production by 2024.
Through its investment, Volvo says it will have the opportunity to collaborate closely with StoreDot on the new battery technology it is developing.
“Our investment in StoreDot fits perfectly with that mindset and their commitment to electrification and carbon-free mobility fits well with us. We are delighted to make this a successful collaboration for both parties and work to bring this innovative technology to market,” said Volvo.
The investment in StoreDot will be implemented by Volvo through a joint venture established with Northvolt. The joint venture will have access to any technological innovations resulting from the collaboration.
StoreDot’s research revolves around silicon anode technology development and software integration. More efficient ion movement type using nanoparticles so that the battery can charge quickly.
Apart from Volvo, Vietnamese electric vehicle manufacturer, VinFast has also invested in StoreDot for its technology.
