Backed by Volvo and Geely, the Swedish electric vehicle producer is among approximately 15 car manufacturers and entities, such as BP, Daimler, and Volvo Cars, with strategic partnerships with StoreDot. The agreement stipulates collaboration between the two firms to integrate StoreDot’s rapid-charging technology into Polestar’s vehicles.
Israeli startup StoreDot announced that Polestar Automotive will be the first car manufacturer to use its fast-charging battery cells, which are capable of nearly full recharge in just 10 minutes, in their vehicles.
The two companies will integrate StoreDot’s rapid-charging technology into Polestar’s vehicles per the agreement. They plan to showcase a prototype next year and aim to have Polestar vehicles equipped with StoreDot’s extremely fast-charging batteries on the roads by 2027.
Polestar CEO Thomas Ingenlath emphasized that this collaboration with StoreDot would enable EV owners to recharge their vehicles in minutes. StoreDot CEO Doron Myersdorf highlighted the shift in electric vehicle concerns from range anxiety to charging anxiety, noting that charging speed is now the primary obstacle to wider EV adoption.
While acknowledging the significant work ahead in integrating their systems into a production car, Myersdorf revealed that their teams are actively engaged, with results to be demonstrated soon. Myersdorf anticipates further partnerships with other automakers to achieve a battery charging capacity from 10% to 80% in just 10 minutes, sustainable over 1,000 consecutive charges.
He mentioned that charging stations would require upgrades to 350 kilowatts to accommodate this faster charging. He also pointed out that StoreDot’s silicon-based batteries, unlike traditional graphite ones, do not degrade with fast charging.
StoreDot, which has raised $200 million and is seeking an additional $150 million in private funding, was founded in 2012, initially focusing on fast-charging mobile phones. The company pivoted to electric vehicles when Daimler became a strategic partner in 2017. Last month, Polestar reported a 50% year-on-year increase in EV deliveries in the third quarter, though there was a 12% drop from the second quarter.