Innovative battery tech firm Storedot, which is working on a range of fast-charging technology, has secured a multi-million investment from car manufacturer Ola Electric.
The Indian car firm recently announced plans to build a new engineering and vehicle design facility in Coventry with more than £100 million being invested in the site over the next five years.
Now the firm hopes to incorporate and manufacture Storedot’s fast charging batteries for future vehicles in India and other markets.
Storedot revealed its ‘100inX’ technology roadmap earlier this month, with the firm hoping to offer batteries that it claims are capable of accepting 100 miles of range in just two minutes by 2032.
Last year the firm said it would manufacture silicon-dominant extreme fact charging (XFC) cells that could deliver 300 miles of range in 10 minutes.
Storedot says that the new funding from Ola Electric will be used for research and development and to accelerate the scaling up to mass production of the XFC batteries which will initially be capable of delivering 100 miles of range in five minutes.
“Ola Electric’s plans to bring StoreDot’s extreme fast charging battery technology to India and manufacture our XFC cells for its EVs, will offer Indian consumers longer range and vastly superior charging speed performance,” said Storedot boss Dr Doron Myersdorf.
Ola is joining a wide range of investors and partners in Storedot which now includes Daimler and Samsung. The company is working closely with other manufacturers on next generation electric vehicles and architectures.
READ MORE
Subscribe to the Move Electric newsletter
e-CARS
New Volkswagen ID Buzz: everything you need to know
How efficient are electric cars?
e-BIKES
Ducati expands e-bike range with first racing machine
e-MOTORBIKES
New Yamaha Neo is Europe-bound '50cc equivalent' electric moped
Electric Motion Epure Race e-motorbike review
e-SCOOTERS
Eskuta KS-450 e-scooter review
Taito unveils innovative new three-wheeled electric scooter
e-WORLD
Electric surfboard firm Awake aims to make waves with first e-foil
Volta Zero electric truck can 'dramatically improve' inner-city road safety