Volvo is doubling down on electrification. The one that aims to sell only 100% electric vehicles by 2030, and 50% hybrid in 2025, has not only invested in a joint venture with Northvolt for 3 billion euros, it also believes in another actor. The automaker has announced its partnership with StoreDot, an Israeli company that develops super-fast battery charging technology for electric vehicles. He offered the envelope to her through its capital division called Volvo Cars Tech Fund, without disclosing the amount, and ensuring full access to this invention. Note that StoreDot’s strategic investors include VinFast, BP, Daimler, Samsung Ventures, etc., among others.
Five minute charge
In the press release, this new Israeli partner is presented as the pioneer of this technology which “it should make it possible to provide batteries that can reach a 100% electric range of 160 kilometers in just five minutes of charging”. It stays “ unique anode technology dominated by silicon and on parallel software integration ». And add: “The company has changed the standard Li-ion battery by designing and combining organic and inorganic compounds, which can charge an electric car in just five minutes – the same time it takes to fill a standard combustion engine car. “. A promise corresponding to that of Volvo, which wants to accelerate these points at reduced costs. So the two will work hard to bring this technology to market and to produce 100in5 cells on a large scale by 2024.
“We aspire to be the fastest-growing industry in our industry and the Tech Fund plays an important role in building partnerships with the technology leaders of tomorrow. Our investment in StoreDot is fully aligned with this mindset, and its commitment to electrification and carbon-free mobility is consistent.” and us. We can’t wait to make this partnership a mutually successful one and work towards the commercialization of this revolutionary technology.” emphasizes Alexander Petrofski, director of the Volvo Cars Tech Fund.