StoreDot is helping mass adoption happen in the Electric Vehicle world with the work they have accomplished on the battery technology.
From time to time I always check in with StoreDot to see if there is any news and updates. This company will become a household name in the future for what they have developed. This Israeli start up is responsible for developing the Electric Vehicle battery that the EV manufacturers will be using.
Every round of fund raising has been backed by various car manufacturers wanting to not miss out on the ultimate prize and that being a battery that can do the range required, but more importantly charge at a rapid rate. The focus has been to charge the battery as quickly as it would take to refuel your car and they are virtually there already which is quite incredible. Imagine in 2030 it will take 10 minutes to charge a battery that will have a range of 500 miles. That is not the end of development however as that battery needs to have a bigger range which they are working on increasing.
Polestar a Swedish EV car manufacturer owned by Volvo was the latest to invest in the 4th round of funding. This follows the likes of Mercedes, Nissan and VinFast a Singapore based EV manufacturer. Tesla are on board with regards to testing the technology hence the StoreDot opening a facility in California. Tesla knows this is what is going to take their cars to the masses and this is the key component currently missing.
2024 is the year set for mass production on the quick charge battery and that is literally 18 months away and around the corner. The latest round of funding was to complete the R&D required to make this happen. StoreDot has over 1000 technicians and scientists working on the project which is well ahead of the competition.
Up till now the only thing holding back EV is the range of the batteries (need too many) and the time it takes to charge. We can remember the first cell phone being a brick back in the 1990's and within the last 20 years has changed due to technology never standing still. StoreDot has done a charging cell phone battery that is 100% charged within 30 seconds which will make life easier once that launches.
This is disruptive technology as all the other battery manufacturers are blown out of the water as who would use their outdated technology? The company has been working on this project for 10 years and has already protected their work with 1000's of patents.
10 years is nothing when it comes to revolutionizing and replacing the combustion engine making StoreDot a household name in the process.