StoreDot claims that its new battery technology can enhance the current electric vehicle cells. Right now, EV batteries are already performing at their best.
But, the Israel-based electric vehicle extreme fast-charging battery startup claims it can do better.
"StoreDot is well known for creating extremely fast charging technologies and helping drivers overcome charging anxiety, which is currently the biggest barrier to EV ownership," said the company's CEO, Dr. Doron Myersdorf.
But, Myersodorf said there's still room for improvement, claiming that they can still deliver an optimum solution to support the ongoing full EV electrification transition.
StoreDot's New Battery Tech
According to Electrek's latest report, the new batt innovation of StoreDot can maintain the EV battery's robust performance even after 1,000 cycles and offer 80% capacity.
The logo of the Israeli startup StoreDot is on display at the company's headquarters in the Israeli coastal city of Herziliya on February 16, 2021. - Israeli ultra-fast charge specialists StoreDot have developed a first generation lithium-ion battery that can rival the filling time of a standard car at the pump. (Photo by Emmanuel DUNAND / AFP)
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On the other hand, the tech firm believes that its new EV technology can also maintain 70% battery cell capacity even after 1,700 cycles.
Thanks to these capabilities, StoreDot can soon improve the efficiency of electric car cells' first and second life usage.
This means that even when EV owners reuse their old car's electric battery and put them on a new EV, it can still offer a powerful performance.
StoreDot's Recently Closed Million-Dollar Funding
Tech Crunch reported that StoreDot recently received $80 million funding led by Vinfast, a Vietnamese electric car developer.
This million-dollar budget will be used to complete the battery tech firm's R&D, as well as its mass production scale-up.
The company's CEO also said that the latest funding round is a critical one for StoreDot since it includes principal investors from the leading automotive companies and tech and energy firms.
Doron added that this million-dollar budget would give them more confidence in the EV industry.
In other news, reports claimed that GM's Michigan plant affected the Chevy Bolt EV and EUV. Meanwhile, Blink Charging decided to collaborate with Bridgestone.
This new partnership is expected to supply the IQ 200 Level 2 EV chargers across 25 locations in the United States.
For more news updates about StoreDot and its upcoming EV battery innovations, always keep your tabs open here at TechTimes.
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Written by: Griffin Davis
