Polyester invests in Israeli ultra-fast-charging battery startups

Electric Vehicle (EV) Automaker Leader Israeli is investing in startups StorddotOne company is working on creating a silicon-based EV battery that can take the claimed 160km range in five minutes.

This is the first financial investment the Swedish-Chinese manufacturer has made in another company, and the parent company has followed a similar investment in Volvo.

Dubbed ‘100in5’, Storddot’s technology is slated for production by 2024, and is clearly “in real-world testing by major automotive manufacturers.”

The new battery technology is silicon-based, with a target gravitational energy density of about 300Wh / kg. For the context, the current Chinese-built Tesla Model 3 with lithium iron phosphate (LFP) batteries has a gravitational energy density of 125Wh / kg.

StoreDot already has existing partnerships with Daimler, VinFast, BP, TDK, Ola Electric and EVE.

According to Stordot, to put it simply, a 100in5 battery can achieve a range of 161 kilometers in five minutes of charging when connected to a very fast DC charger. It is not clear what the maximum charging speed or size of this battery is.

Polyester says Stordot’s advanced battery technology is aligned with its “strategy of advancing the electrical mobility of its larger innovative industry partners.”

As part of the deal, Polyester is collaborating with Stordot to adapt and fit its battery technology to the proof-of-concept of the Polyester car concept.

The Swedish-Chinese automaker says that if current pilot projects, including Stordot, are successful, it could apply battery technology to polyester cars by 2026.

It is unknown at this time what he will do after leaving the post.

“Charging and range concerns are a common concern that prevents combustion engine car owners from switching to EV,” said Thomas Ingenlath, CEO of Polyester.

“StoreDot’s advanced battery technology potentially provides practical solutions to these barriers.”

Outside of this partnership, Stordot aims to release its ‘100in3’ solid-state battery in 2028, with a target gravimetric power density of approximately 450Wh / kg.

After 2030, the goal is to create a post-lithium battery called ‘100in2’ with a power density of over 550Wh / kg.

Polyester is owned by Chinese giant Gili, which owns brands such as Volvo, Lotus, Proton, London EV Company, Link & Co and Zicker.

The Polestar 2 electric sedan first touched Australia in early 2022 and is based on the CMA platform that is also used in the Volvo XC40 SUV.

Polyester recently confirmed that it plans to release its next car, the Polyester 3 “Electric Performance SUV” in October 2022.

Set to be produced in the United States and China, Polyester 3 was previously previewed in the form of a black-and-white camouflage prototype.

The Polestar 3 will be a smooth replica of the next generation Volvo XC90 that shares its SPA2 architecture.

The Polyester 4, a small coupe SUV, is planned to be released in 2023 and the aforementioned Polyester 5 Liftback is planned to be released in 2024.

As previously reported, Polyester Gores Guggenheim wants to merge with a special purpose acquisition company (SPAC) and be listed on Nasdaq. The deal is expected to close in the first half of 2022.

Plus: Volvo invests in a very fast-charging battery startup
More: Polyester China cut sales target due to lockdown
More: Polyester Precept Prototype has been teased

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