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StoreDot secures investment from Yozma Group

The fast-charging EV battery company StoreDot has announced a new investment partnership with Yozma Group that it believes will enable it to expand its reach in Asia through disruptive technologies that will address range and charging anxiety.

Yozma, which has led the globalization of Israeli startup ventures and the growth of the Israeli venture capital market, specializes in supporting innovative tech startups. For StoreDot, this new investment provides the opportunity to engage with automotive manufacturers headquartered in South Korea.

The Yozma Group partnership represents the latest step in StoreDot’s rapid advancement in extreme fast charging lithium-ion batteries for use in the automotive sector, with StoreDot already in talks with global car makers and on track to deliver mass-produced XFC batteries – which deliver a 50% reduction in charging time at the same cost – by 2024.