Polestar announced its ‘strategic deal’ with Israel-based company, StoreDot. Both will be working on extreme fast-charging battery technology. Polestar places its bet on the yet to be developed technology. Also, StoreDot is known to be a pioneering company in the development of silicon-dominant EV battery technology.
Currently, StoreDot has set a target to have batteries that have the capacity to charge 160km of range in five minutes. This target is to be achieved by 2024. StoreDot is the first financial investment as company for Polestar. This deal includes collaboration and adaption of the application on proof-of-concept Polestar EVs.
Polestar, the Sweden-based EV maker followed Volvo, the parent company in backing StoreDot. The growing list of EV makers being involved with battery makers includes BP Ventures, VinFast, Ola Electric, Daimler, and Samsung. This week, Polestar announced its strategy to align with StoreDot’s advanced battery technology. It will be leveraging industry collaboration to shift towards EV, along with innovation in advanced technology. According to the EV makers, its current projects with StoreDot have been successful. It expects that this new technology will also bring results, as it will be rolled out to customers in Polestar cars from early 2026.
CEO Thomas Ingelath 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,”
Advanced technology
“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,” Inhenlath said. StoreDot CEO Dr. Doron Myersdorf praised Polestar as an ambitious and innovative brand that was already “proving to be pivotal” in the mass adoption of electric vehicles.
“We know that our technologies have huge potential to eradicate charging and range anxieties for future Polestar owners,” Myersdorf said. StoreDot confirmed in March that it was on track to deliver mass production of batteries capable of charging 160 kilometers (100 miles) of range in 5 minutes – or “100in%” – by 2024. Ultimately, however, the company is aiming to deliver a battery with a 2-minute charge time for 100 miles (160 kilometers) by 2032. Polestar, meanwhile, has plans to launch one new electric vehicle a year, starting this year with the Polestar 3 – the company’s first electric performance SUV – to add to the existing all-electric Polestar 2.
With the help of artificial intelligence algorithms, StoreDot has synthesized proprietary organic and inorganic compounds that can be used in lithium-ion battery production.