India EV maker Ola Electric on Monday announced that it has invested in an Israeli battery technology company StoreDot, a pioneer in batteries with extreme fast charging (XFC) technology.
As part of the investment in StoreDot, the vehicle maker will have access to the company's XFC battery technology that charges a battery from 0 to 100% in just five minutes. Ola will also have exclusive rights to manufacture batteries integrating StoreDot's fast charge technology in India.
Bhavish Aggarwal, Founder and CEO, Ola, said the company's partnership with StoreDot is of strategic importance and a first of many.
Dr Doron Myersdorf, StoreDot CEO, said this initiative will offer Indian consumers vastly superior range and charging speed performance.' We are also offering our customers a clear, hype-free technology roadmap that will extend far into the future of delivering 100 miles of range in just a 2-minute charge, within a decade.'