Polestar makes investment in fast charging battery tech company

StoreDot successfully demonstrated a live extreme fast charging of a EV battery cell in April 2022 and aims to have a product in the market which will be able to add 100 miles to a battery cell in just 5 minutes by the end of 2023. As part of the company’s roadmap they are also aiming to have technology available by 2032 which will see 100 miles added to a vehicle’s range in just 2 minutes.

Incredible cutting-edge technology which promises to revolutionise the EV battery market.

Polestar isn’t the first company to invest in StoreDot, it joins the likes of Samsung, BP, TDK and Daimler in betting on the success of the Israeli-based tech company.

Polestar CEO, Thomas Ingenlath comments: “Polestar can help shape the development of new battery technology for the automotive industry and provide invaluable insights from the perspective of a brand focused on performance and sustainability.”

StoreDot CEO, Dr Doron Myersdorf, added: “We are extremely excited to be entering into an agreement with Polestar, both as an investor and collaborator. Like us, Polestar is an extremely ambitious, innovative brand and is already proving to be pivotal in the mass adoption of electric vehicles, helping us move to a cleaner, zero-emissions world.”

“This investment from one of the pioneering electric vehicle brands is an important step in our commercialization process. It will not only enable us to bring the ground-breaking ‘100in5’ batteries to market quicker, but also boost our R&D capabilities. We are rapidly moving towards even more game-changing technology and are laser-focused on offering 100 miles of range in just two minutes of charging, within a decade,” said Meir Halberstam, StoreDot CFO

As part of the agreement Polestar is hoping that it will use StoreDot technology in future Polestar models.