StoreDot has a new corporate funding round

Ola Electric invested in StoreDot, Israel-based pioneer of extreme fast charging battery technologies.

According to Bhavish Aggarwal, founder and CEO of Ola, its partnership with StoreDot, a pioneer of extreme fast charging, is of strategic importance and a first of many. The company seeks to ramp up its core research and development in advanced chemistry and cell manufacturing, as well as other battery technologies and new energy systems.

As part of the investment, Ola Electric will have access to StoreDot’s XFC battery technology that charges a battery from 0 to 100% in five minutes.