Volvo invests in Israel’s Storedot

Volvo invests in Israel’s Storedot


Presentation

StoreDot is on track to begin mass production of its 100in5 cells as early as 2024, enabling it to charge 160 kilometers in just five minutes. The investment provides an opportunity to work closely with StoreDot on exciting new battery technology for Volvo Cars as it aims to become a pure electric car company by 2030.

  • Volvo Cars Tech Fund, the automaker’s venture capital firm, is making a strategic investment in the fast-charging pioneer StoreDot.
  • Volvo Cars’ investment is the latest partnership with a major automaker and a vote of confidence in StoreDot’s advanced technologies.
  • StoreDot is on track to begin mass production of silicon-dominated lithium-ion cells that offer 100 miles of range in five minutes of charging by 2024.
  • StoreDot’s global strategic partners now include Daimler, BP Ventures, Ola Electric, Samsung, TDK, EVE and VinFast.
  • The “100in5” battery cells are currently being tested in real-world conditions by major car manufacturers.

Volvo batteries: directors talk about the topic

Alexander Petrofski, director of the Volvo Cars Tech Fund “We want to be the fastest pace changer in our industry and the Tech Fund plays an important role in building partnerships with future technology leaders. Our investment in StoreDot is fully aligned with this vision and its commitment to electrification and carbon-free mobility aligns with ours. We look forward to making this partnership a success for both parties, working hard to bring this revolutionary technology to market. »

Dr. Doron Myersdorf, CEO of StoreDot “We are very excited and proud to be involved in a partnership with a leading automotive brand. Volvo Cars’ commitment to zero-emission electric vehicles is very impressive and perfectly aligned with StoreDot’s mission. We strive to ensure that EV drivers never have to worry about charging times. charging, which is currently the biggest obstacle to EV ownership and a cleaner world. StoreDot is also providing global OEMs with a clear technology road map that will start with “100in5” silicon-dominated batteries by 2024, but develop over the next decade as already we are about to reach 100 miles. within two minutes of charging. »

StoreDot is currently working with many automakers around the world to power the next generation of electric vehicles. It is already shipping advanced “100in5” cells for real-world testing.