Volvo invests in ultra-fast rechargeable battery starter

Volvo, going all-electric by 2030, is investing in Israeli startup StoreDot – a company that is aiming to produce EV batteries that can achieve a range of 160 kilometers in five minutes. .

The investment came from Volvo Cars Tech Fund, its venture capital arm.

Dubbed ‘100in5’, StoreDot’s technology in development is slated for production in 2024 and appears to have been “tested in the real world by leading automakers”.

New battery technology based on silicon, with a target gravity energy density of about 300Wh/kg. For context, the present is built by China Tesla Model 3 with a lithium iron phosphate battery pack with a gravity energy density of 125Wh/kg.

To put it more simply, the 100in5 battery is said to be able to achieve 100 miles (160.9km) of driving range after just five minutes of charging, according to StoreDot. The maximum charging speed of this battery and the size of the battery is unknown.

StoreDot already has existing partnerships with Mercedes-Benz, VinFast, BP, TDK, Ola Electric and EVE.

Meanwhile, Volvo’s new investment in the Israeli company reinforces its previous 30 billion SEK ($A4.26 billion) investment in Swedish battery maker Northvolt, in 2021.

Additionally, StoreDot is aiming to release a ‘100in3’ solid state battery by 2028, with a target gravity energy density of around 450Wh/kg. Beyond 2030, it aims to develop a post-lithium battery called ‘100in2’ with a gravity energy density above 550Wh/kg.

Volvo’s investment in StoreDot gives it “secure access” to any resulting technology it may deploy in its future all-electric car models.

However, Northvolt will remain focused on both the development and production of battery cells for the next-generation all-electric Volvo and Polestar cars.

Volvo has previously announced it will fully electric by 2030 and will sell the car online at this time. It is also expected to derive at least half of its global sales from electric vehicles by 2025.

Volvo’s first all-electric model, XC40 Pure Charger The SUV, first becomes available locally in mid-2021 and is currently available in both single and dual electric propulsion systems.

Relate to C40 recharge The coupe SUV will be available on Australian soil in the third quarter of 2021 and will also be available in both single and dual electric propulsion systems.

Both of these vehicles are built on top of the CMA platform, which also underpins the Polestar 2 power back up.

Volvo is also set to unveil an all-electric car XC90 Full-size SUV replacement, expected to be called Embla. The styling of this car has been previewed by 2021 Concept Recharge.

THAN: Volvo will go all-electric by 2030, will only sell online