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Polestar invests in EV battery firm Storedot

Date: 24 May 2022   |   Author: Sean Keywood

Electric car manufacturer Polestar has announced an investment in a battery company said to be pioneering extreme fast charging battery technology.

Storedot is developing silicon-dominant batteries, said to be capable of taking on around 100 miles of range within five minutes of charging. The batteries are due for production by 2024.

As part of the deal, Polestar is collaborating with Storedot on applying the technology to proof-of-concept Polestar vehicles. 

Test cases being explored include customising Storedot's technology to Polestar cars, to enable faster charging.

Polestar CEO Thomas Ingenlath said: "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.

"Charging and range anxiety are common concerns holding owners of combustion engine cars back from making the switch to EVs. Storedot's advanced battery technology potentially provides real solutions to these obstacles. 

"If our current pilot projects with Storedot are successful, we could see these solutions being implemented in Polestar cars by 2026."

Storedot CEO Doron Myersdorf said: "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. 

"We are looking forward to working together and we know that our technologies have huge potential to eradicate charging and range anxieties for future Polestar owners."