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Volvo Invests in StoreDot's Ultra-Fast Charging Battery, May Speed Up Its Time to Market

StoreDot’s revolutionary, ultra-fast charging battery is getting a lot of attention lately, arousing the interest of more and more car manufacturers. The latest automaker to get tickled by the promising technology is Volvo, which recently announced its intention to invest in the Israeli company.
Volvo Invests in StoreDot battery technology 6 photos
StoreDot promises batteries capable of adding 100 miles in 5 minutes of charging by 2024StoreDot promises batteries capable of adding 100 miles in 5 minutes of charging by 2024StoreDot promises batteries capable of adding 100 miles in 5 minutes of charging by 2024StoreDot promises batteries capable of adding 100 miles in 5 minutes of charging by 2024StoreDot promises batteries capable of adding 100 miles in 5 minutes of charging by 2024
The Swedish manufacturer plans to invest in the pioneering battery technology through Volvo Cars Tech Fund, its venture capital arm, and boasts of being the “first premium carmaker” to do so. This decision comes as no surprise given that Volvo has clearly shared its future business direction with every opportunity, announcing that it plans to only sell pure electric cars by 2030. Moreover, by 2025, Volvo aims for half of its global volume to consist exclusively of electric vehicles.

This recently announced partnership between StoreDot and Volvo’s Tech Fund aims to take the former’s battery technology to the market as soon as possible, with mass production being targeted for 2024. Volvo also specifies that this collaboration secures its access to any resulting technology from the partnership.

In other news, Volvo is also working on developing and producing its own battery cells, teaming up with Swedish battery developer Northvolt. The two plan to build a plant in Gothenburg (Sweden), a joint venture announced last year. The factory will deliver 50 GWh per year by 2025. In addition to the factory, they are also working on opening a research and development center at that same location, a facility that should become operational sometime this year. Together, they will create more than 3,000 new jobs in the area.

Back to StoreDot’s groundbreaking battery, it uses a unique silicon-dominant anode technology. The result is a battery that claims to offer a range of 160 km (100 miles) after just five minutes of charge. And this would be just the beginning, with the Israeli developer dreaming even bigger. The company promises that 10 years from now, its batteries will evolve to the stage where they will only require two minutes of charge to offer 100 miles of range.

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