Ola Electric has invested in an Israeli battery technology start-up — StoreDot — which is working on a silicon-dominant anode battery that promises a full charge in five minutes. As part of the investment, Ola will have access to StoreDot’s fast-charging battery technology as well as exclusive rights to manufacture batteries integrating StoreDot’s fast charge technology in India.
To achieve its revolutionary charging times, StoreDot’s XFC batteries replace the graphite anode seen in traditional lithium-ion batteries with a proprietary “silicon-dominant anode”. The start-up also seems to be working on solid-state battery technology. In addition to the promised charging time of five minutes, the XFC batteries also claim an energy density of 300Wh/kg, which is higher than current Li-ion batteries that max out at around 250Wh/kg.
StoreDot was founded a decade ago and is yet to roll a product. It earlier claimed to have developed smartphone batteries capable of being fully charged within 30 seconds, which has not made it into production so far.
