StoreDot, Pioneer Extreme Charging Battery, Announces Strategic Partnership with Ola Electric

  • Ola Electric, India’s leading electric car manufacturer, is investing millions of dollars in StoreDot.
  • Ola Electric joins StoreDot’s global strategic partners, including Daimler, BP, Samsung, TDK, EVE and VinFast
  • Ola Electric manufactures cells with StoreDot’s extremely fast charging technology in India
  • StoreDot is on track to mass-produce the dominant silicon lithium-ion cells by 2024, delivering a distance of 100 miles on a five-minute charge.
  • “100in5” battery cells are currently being tested in the real world by leading automotive manufacturers

StoreDot, the pioneer of ultra-fast charging – XFC – technologies for electric vehicles, has secured a multimillion-dollar investment from Ola Electric, India ‘s leading EV manufacturer, to accelerate the world’ s transition to sustainable mobility. Ola Electric plans to incorporate StoreDot fast charge battery technologies and manufacture it for future vehicles in India.

The new funding comes as part of StoreDot’s Series D investment round. It will be used for research and development and to accelerate scaling before mass production with its silicon dominant anode XFC lithium-ion cells, which will initially be able to deliver 100 miles in 5 minutes by 2024.

Headquartered in Bengaluru, India, Ola Electric is stepping up investments in advanced R & D in advanced cell chemistry and manufacturing, as well as the latest battery technologies and new power systems. He recently announced a $ 100 million investment to build Ola Futurefoundry, its leading center for advanced engineering and automotive design, in the UK, where he will work on a future range of electric vehicles, including four- and four-wheelers, in collaboration with Bengaluru. Center.

Dr. Doron Myersdorf (pictured), CEO of StoreDot “We are very excited to enter into this strategic partnership with Ola. Both companies are committed to providing a world of zero emissions, breathing fresh air into our cities and ensuring that electric car drivers never worry about charging time and range anxiety. Ola Electric plans to bring StoreDot Extreme Fast Charging Battery technology to India and manufacture our XFC cells for its electric vehicles, offering Indian customers a wider range and extremely high charging speed performance. “We continue to focus on offering our customers a clear, non-agitated technological roadmap that will extend into the distant future and cover 100 miles in just 2 minutes over a decade.”

Bhavish Aggarwal, Founder and CEO, Ola“We are committed to Mission Electric and to accelerate the transition to electric mobility around the world, our ambition is to build a complete ecosystem for electric vehicles here in India,” he said. The future of electric vehicles lies in better, faster and higher energy density batteries that can charge faster and deliver a higher range. We are increasing our investments in core and battery technologies and strengthening our in-house capabilities and global talent recruitment, as well as collaborating with global companies to deliver the latest work in the field. “Our partnership with StoreDot, a pioneer in ultra-fast battery technology, is of strategic importance and above all.”

Ola joins a wide range of top-tier investors and partners in StoreDot – a list that now includes Daimler, VinFast, BP, Samsung, TDK and EVE Energy. The company is also working closely with major automotive manufacturers on next-generation electric vehicles and architecture, and is currently conducting real-time tests with advanced ‘100in5’ cell samples of the dominant silicon anode. StoreDot’s innovative XFC cells will be available both in the bag and in the 4680 family form factor – formats that are increasingly being used by global automotive manufacturers.

StoreDot, Pioneer Extreme Charging Battery, Announces Strategic Partnership with Ola Electric

Source link StoreDot, Pioneer Extreme Charging Battery, Announces Strategic Partnership with Ola Electric

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