Swedish electric vehicle manufacturer Polestar has made its first company investment in Israel-based extreme fast-charging battery technology producer StoreDot.
As part of the strategic deal, Polestar is collaborating with StoreDot to explore adapting and applying their technology to proof-of-concept Polestar cars. Test cases already underway include customizing StoreDot cell technology for Polestar cars to enable faster charging and improved circularity.
If successful in testing, the new battery technology solutions could be implemented in Polestar cars by 2026, according to Polestar CEO Thomas Ingenlath.
Transforming conventional Lithium-ion batteries, the StoreDot technology has designed and synthesized proprietary organic and inorganic compounds that, optimized by artificial intelligence algorithms, enable a full EV charge in as little as five minutes – the same time it takes to refuel a conventional combustion engine car, according to the company.
Beginning this year, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 – the company’s first electric performance SUV. Polestar 4 is expected to follow in 2023, a smaller electric performance SUV coupe. The automaker’s currently offers two EVs: Polestar 1, a low-volume hybrid GT, and the Polestar 2, a fully electric high-volume car.