Volvo invests in super fast charging battery technology

1650625744_519_arenaev_002.jpg

Volvo has ambitious goals of going 100 percent electric by 2030 and created an investment fund called Volvo Cars Tech Fund to secure collaboration with other companies on EV development. First agreement was signed with Northvolt, biggest battery maker in Sweden and now StoreDot joins the effort. Volvo has poured nearly €3 billion into the newest joint venture that will focus on bringing the super fast battery charging technology to the market.

StoreDot is an Israeli company specializing in battery technology and known for organic compound and germanium based batteries. The latest development focuses on super fast charging technology that adds 160km of range in less than 5 minutes.

This technology is based on mainly silicon based anodes and software adapted specifically to increase charging times without detrimental effects on the battery. The technology is ready for the market and Volvo joins at the very strategic point simply to accelerate the scaling up and bring the product into high volume manufacturing.

Volvo invests in super fast charging battery technology

The new joint-venture will set up an R&D center in Gothenburg and will follow up with building a battery manufacturing plant. The move will create 3,000 new jobs in the area and will help deliver high range EVs that charge quickly. This new joint-venture will also benefit Polestar as it relies heavily on batteries and motors coming from Volvo.

Volvo invests in super fast charging battery technology

Source

Buy Aussies 30 day news updates.
We use income earning auto affiliate links. More On Sponsored Links.


Swyftx

Related Posts

1653510207_508_arenaev_003.jpg

Lucid recalls 1,117 Air EVs for wiring issues

Lucid really can’t get a break, it seems. The company is still struggling to actually manufacture any significant number of Air EVs, and on top of that it’s now had…

Read more
1653401812_39_arenaev_002.jpg

2025 VW ID.1 is a €19,900 replacement for VW e-UP with more room, power and range

VW ID.1 has been rumored since 2020, it was meant to be on the market by 2023 but now we know it won’t happen until 2025. VW kept going back…

Read more
1653445136_138_arenaev_002.jpg

Electric Nissan Ariya to go from North Pole to South Pole

Do not try this at home! Chris Ramsey, who is behind the adventure and will be driving the Nissan Ariya, clearly does not pay attention to those warnings. Only a…

Read more
1653423473_985_arenaev_002.jpg

Polestar invests in StoreDot to secure access to fast charging battery technology

Polestar hasn’t stopped making waves since it became an independent company in 2017. Despite being owned by Volvo and Geely and sharing a lot of technology with the parent companies,…

Read more
1653315171_900_arenaev_002.jpg

Owners of new Ford F-150 Lightning cannot control it with the FordPass app

Those lucky few who managed to get hold of Ford F-150 Lightning have noticed one of its cooler features is missing. However hard they try they cannot get the car…

Read more
1653336847_445_arenaev_001.jpg

Mercedes is bringing new electric C-Class to compete with Tesla Model 3

Mercedes-Benz just announced it is about to change its strategy and focus on luxury more than ever before. Smaller segment cars such as the A and B class will have…

Read more