Private Equity Other Private Equity/Strategic Investments
Ola Electric invests In Israeli battery tech startup StoreDot
Source Inc42 (opens in a new tab)
Ola's electric vehicle arm, Ola Electric, has invested in Israel-based battery technology startup StoreDot. Under the deal, Ola Electric will obtain access to StoreDot's advanced XFC battery technology that charges a battery from 0 to 100% in five minutes. Besides this, Ola will have exclusive rights to manufacture batteries integrating StoreDot's fast charge technology in India.
StoreDot develops lithium ion batteries for electric vehicles. Additionally, it creates batteries for mobile phones and scooters.