Polestar invests in extremely fast-charging battery company StoreDot; unlock access to advanced battery technology
Polestar has made its first financial investment as a business, investing in the extremely fast charging battery technology innovator, StoreDot.
StoreDot is a pioneer in the development of silicon-dominant extremely fast-charging batteries for electric vehicles. The Israel-based company aims to produce batteries for electric vehicles capable of charging up to 160 km of range in just five minutes, by 2024.
StoreDot’s advanced battery technology aligns with Polestar’s strategy of leveraging broader innovative partners. industry to drive advances in electric mobility.
“Polestar can help shape the development of new battery technology for the automotive industry and provide valuable insights from the perspective of a brand focused on performance and sustainability,” said Polestar CEO Thomas Ingenlath
as part of the strategic agreement. , Polestar is collaborating with StoreDot to explore adapting and applying its technology to Polestar proof-of-concept cars. Test cases already being explored include customizing StoreDot’s cellular technology for Polestar cars, to enable faster charging and improved circularity.
“Charging and range anxiety are common concerns that prevent combustion engine car owners from making the switch to electric vehicles. StoreDot’s advanced battery technology potentially offers real solutions to these obstacles. If our current pilot projects with StoreDot are successful, we could see these solutions implemented in Polestar cars by 2026”, continues Thomas Ingenlath .
For his part, the CEO of StoreDot, Dr. Doron MyersdorfHe added: “We are very excited to enter into an agreement with Polestar, both as an investor and as a partner. Like us, Polestar is an extremely ambitious and innovative brand and is already proving instrumental in the mass adoption of electric vehicles, helping us move towards a cleaner, zero-emission world. We look forward to working together and know that our technologies have enormous potential to eradicate cargo and range anxieties for future Polestar owners.”
Samuel Edwards is the name you must have heard many times while reading reports related to Finance, that’s what he is good at. From Major Investments to Stock Market Updates, he got ’em all. Be ready to blow your mind by the mind-blowing reports of Finance World from Samuel Edwards.