Ola Electric makes strategic investment in StoreDot, an Israeli company with extreme fast charging technology

Ola Electric, India’s leading manufacturer of EVs, has invested in an Israeli battery technology company StoreDot, a pioneer in batteries with extreme fast charging (XFC) technology. The investment in StoreDot is the first of several global strategic investments planned by Ola Electric as it looks to ramp up its core R&D in advanced cell chemistry & manufacturing as well as other battery technologies and new energy systems. As part of the investment in StoreDot, Ola Electric will have access to the company’s state of the art XFC battery technology that charges a battery from 0 to 100% in just 5 minutes. Ola will also have exclusive rights to manufacture batteries integrating StoreDot’s fast charge technology in India. The company plans to set up a gigafactory for manufacturing cells in the country to meet the demand generated by Ola Futurefactory, the world’s largest 2W factory, and has already submitted a bid under the Government’s PLI scheme for Advanced Chemistry Cell Battery Storage. Bhavish Aggarwal, Founder and CEO, Ola, said: “We are committed to Mission Electric and to accelerate the world’s transition to electric mobility, our ambition is to build a complete ecosystem for EVs here in India. The future of EVs lies