Polestar Teams Up With StoreDot To Boost EV Charging Speeds

StoreDot, the Israel-based innovator in electric vehicle battery technology, has entered into a pivotal partnership with the UK's Polestar Automotive Holding PSNY, a move that could drastically improve electric vehicle (EV) charging times. The collaboration aims to assess and showcase the potential of XFC (Extreme Fast Charging) battery cell technology within an already existing vehicle infrastructure.

Technological Breakthrough in EV Charging

The revolutionary '100-in-5' XFC cell technology by StoreDot was highlighted at the Polestar Day event in Los Angeles, California, where a demonstration involving a prototype Polestar battery module took place. This technology promises a significant leap forward in charging speeds, offering 100 miles of range with just five minutes of charging. Crucially, this rapid charging is achieved without sacrificing battery longevity.

Strategic Partnership and Future Prospects

The investment by Polestar in StoreDot, coupled with the ongoing strategic partnership between the two companies, underpins the concerted effort toward integrating StoreDot's XFC technology into Polestar's product line. The collaboration has already taken shape with plans to incorporate this technology into a prototype of the future Polestar 5, slated for a full reveal in 2024.

Polestar's Chief Executive Officer, Thomas Ingenlath, echoes the sentiment of innovation, anticipating that the merger of StoreDot's cutting-edge battery tech and Polestar's advanced electric powertrains will transform the experience of EV ownership, endowing vehicles with the unprecedented capacity to recharge within minutes.

Market Response

The announcement spurred a positive reaction in the market, as reflected in PSNY's stock, which experienced a premarket uptick of 4.02% to $2.07. This investor optimism underlines confidence in the potential of Polestar's strategic moves in the fast-evolving electric vehicle space.

StoreDot, Polestar, Battery