Ola Electric makes strategic investment in Israeli startup that develops quick charging batteries for EVs
Ola Electric has made a strategic investment in Israeli startup StoreDot. Ola will get exclusive rights to manufacture batteries that incorporate StoreDot's fast-charging technology, which claims to charge a battery from 0 to 100% in about 5 minutes. Bengaluru-based Ola Electric has made an undisclosed strategic investment in an Israeli battery technology startup. The Israeli company called StoreDot develops "very quick charging" batteries for electric vehicles (EVs). Ola Electric will gain access to the company's extreme-fast charging (XFC) battery technology, which claims to charge a battery from 0 to 100 percent in about 5 minutes, as part of the investment. Ola group CEO Bhavish Aggarwal said the company is looking is to create a complete EV ecosystem in India. According to him, the future of EVs lies in better, faster, and more energy density batteries capable of rapid charging and giving greater range. Ola will also get exclusive rights in the...