Volvo Cars has made an investment in StoreDot, an Israeli company developing extreme-fast charging battery technology for electric cars, through the Volvo Cars Tech Fund, its venture capital arm.
Volvo Cars and Northvolt will open a joint research and development (R&D) centre in Gothenburg as part of a SEK 30 billion investment in battery development and manufacturing.
Rapidly moving towards becoming a fully electric car company, Volvo Cars is bringing battery cell technology development and production closer to home and aims to tailor its future batteries to the needs of its customers: a longer range and faster charging times.