Ola Electric Invests in an Israeli Company StoreDot

• Published On: 21 March 2022
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Ola Electric to manufacture batteries integrating StoreDot’s fast charge technology

Ola Electric has invested in an Israeli company named StoreDot which is a battery technology company specializing in batteries with extreme fast charging (XFC) technology. As a part of this investment, Ola Electric will be able to access StoreDot’s XFC battery technology. Having said that, this particular technology can charge a battery from 0 to 100 percent in just 5 minutes. Besides this, Ola gets exclusive rights to manufacture batteries integrating StoreDot’s fast charge technology in India.

This is the first of several global strategic investments planned by Ola Electric. The company plans to ramp up its core R&D in advanced cell chemistry & manufacturing besides other battery technologies and new energy systems.

“We are committed to Mission Electric and to accelerate the world’s transition to electric mobility, our ambition is to build a complete ecosystem for EVs here in India. The future of EVs lies in better, faster, and high energy density batteries, capable of rapid charging and delivering higher range. We are increasing our investments in core cell and battery technologies and ramping up our in-house capabilities and global talent hiring, as well as partnering with global companies doing cutting-edge work in this field. Our partnership with StoreDot, a pioneer of extreme fast-charging battery technologies, is of strategic importance and a first of many,” as commented by Bhavish Aggarwal, Founder, and CEO, Ola.