StoreDot Developing Autonomous Vehicle Battery that Charges in Five Minutes, Says Exec

Erez Lorber, StoreDot’s chief operating officer, spoke Tuesday at a conference on innovation held by Calcalist at the Mondial de l'Automobile auto show in Paris

Omer Kabir 14:5003.10.18

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Tel Aviv-headquartered startup StoreDot Ltd. is working on a battery for electric vehicles that charges in just five minutes, the company’s Chief Operating Officer Erez Lorber said. A team of scientists and engineers is at work to get the quick charging battery to function efficiently and safely and the company expects to see results as early as 2021, Lorber added.

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Lorber spoke Tuesday at a conference on innovation held jointly by Calcalist and events firm Connecting Leaders Club at the Mondial de l'Automobile auto show in Paris.

Founded in 2012 and headquartered in Herzliya, a town in the Tel Aviv area, StoreDot has raised $158 million to date, according to Pitchbook data. Investors include Tokyo-headquartered TDK Corporation and German carmaker Daimler AG.