Polestar invests in fast charging battery manufacturer StoreDot

Automaker Polestar has invested in StoreDot, an Israeli company working on batteries that support high-speed charging. Polestar will also look at whether it can use those batteries in its future cars.

With the investment Polestar and StoreDot are entering into a ‘strategic partnership’ with both companies investigating the suitability of the latter’s batteries for use in Polestar cars. It is not known what amount is involved in the investment.

Initially, Polestar will test proof-of-concept cars with StoreDot batteries. The two companies are currently testing whether StoreDot’s battery cells can be adapted for Polestar cars to be used for faster charging speeds. “If our current StoreDot pilots are successful, we could see these solutions implemented in Polestar cars by 2026,” writes Polestar CEO Thomas Ingenlath.

StoreDot is an Israeli company that was founded in 2012 and is currently working on silicon-based batteries. The battery maker says it is on track to produce batteries for cars by 2024 that can travel 160 kilometers on a five-minute charge. In 2028 it should be possible in three minutes, and in 2032 it should be possible to drive 160 kilometers after a minute of charging, the company claims.

StoreDot lithium-silicon batteries. Source: StoreDot