BERLIN : Electric vehicle batterymaker Italvolt will license fast-charging battery technology from Israeli start-up StoreDot to manufacture lithium-ion batteries at a plant it is raising funds to build in Italy, the companies said on Monday.
StoreDot, whose investors include the truck division of then Daimler, now Mercedes-Benz, BP, VinFast, Volvo, Polestar and Samsung, develops fast-charging battery cells for electric cars using silicon-rich electrodes that enable the cells to charge more quickly. Fast-charge capability could also enable EV manufacturers to install smaller battery packs and thus lower the cost of their cars.
This partnership would provide it with a manufacturing partner closer to customers in Europe, Chief Executive Doron Myersdorf said to Reuters.