Polestar invests in StoreDot, an ultra-fast charging battery technology company, to unlock cutting-edge fast charging technology

Polestar, a global high-performance electric vehicle brand, has made its first financial investment in StoreDot, an Israeli ultra-fast charging battery technology company, under its own name. StoreDot is the first to develop ultra-fast charging batteries for electric vehicles using silicon as the main material. The company aims to produce electric vehicle batteries that can be charged in 5 minutes and have a range of 160 kilometers by 2024. StoreDot's advanced battery technology is in line with Polestar's strategy of uniting a wider range of innovative industry partners to jointly promote the development of the electric vehicle industry.

Polestar invests in StoreDot, an ultra-fast charging battery technology company, to unlock cutting-edge fast charging technology

Polestar CEO Thomas Ingenlath said: "As a brand focused on performance and sustainability, Polestar can determine the development path and provide valuable experience for new battery technologies in the automotive industry."

As part of a strategic agreement, Polestar is working with StoreDot to explore the application of its technology to Polestar's concept vehicle. The test project includes StoreDot battery technology tailored for Polestar vehicles, allowing for faster charging and higher cyclability.

Thomas Inglart also said, "Charging and range are common concerns of fuel car owners about electric vehicles, and StoreDot's advanced battery technology is expected to provide a real solution."

Dr Doron Myersdorf, Founder and CEO of StoreDot, said: “We are delighted to have reached an agreement with Polestar to become an investor and partner in StoreDot. Like us, Polestar is an innovative brand with growth ambitions and has played a key role in the development of the electric vehicle industry, leading us towards a cleaner, zero-emission world. We look forward to working together to unlock the huge potential of StoreDot’s technology and eliminate the anxiety of future Polestar users about charging and range.”