160 km in 5 minutes charging time

Volvo Cars invests in new battery technology

20. April 2022, 11:46 Uhr | Irina Hübner
Ziel des Unternehmens StoreDot ist ein außergewöhnlich rasches Laden.
© Volvo Cars

Volvo Cars invests in StoreDot. The Israeli company is developing a new battery technology for electric cars that will make it possible to recharge enough electricity to cover a distance of 160 km in just five minutes.

The cooperation between Volvo Cars and StoreDot mainly takes place within the framework of the battery joint venture that Volvo established last year with the leading Swedish battery manufacturer Northvolt. By investing in StoreDot, Volvo Cars secures access to all the technology achievements resulting from the collaboration.

The investment gives Volvo Cars the opportunity to develop new battery technologies together with StoreDot. Through the collaboration with Volvo Cars, StoreDot aims to accelerate the market introduction of its development - a start of series production is targeted for 2024.

Particularly fast charging technology

StoreDot's battery development focuses on a special silicon anode technology and the associated software integration. The aim is to develop extremely fast charging technology. This coincides with Volvo's goal of developing electric cars with greater range, shorter charging times and lower costs.

»We want to be the fastest transformer in our industry, and the Tech Fund plays a critical role in building partnerships with future technology leaders,« says Alexander Petrofski, head of Volvo Cars Tech Fund. »Our investment in StoreDot fits perfectly with this approach; the company's commitment to electrification and CO2-free mobility matches our own. We look forward to making this collaboration a success for both parties and bringing this breakthrough technology to market.«

From 2030 only e-cars at Volvo

Volvo has become the first established carmaker to commit to full electrification and plans to sell only pure electric cars from 2030. As early as 2025, half of global sales are to consist of purely electric cars. The joint venture with Northvolt, announced last year, will focus on the development and production of advanced battery cells for the next generation of electric cars from Volvo and Polestar.

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