Daimler’s truck division has invested in Israel’s StoreDot, a fast charging battery technology company, in the form of USD 60 million. The move is expected to help Daimler in its quest to build electric trucks. Electrification of trucks is of top priority at Daimler. With Daimler as strategic partner, StoreDot, whose worth is claimed to have gone up to USD 108 million. It could find itself in a position of advantage, especially in connection with the faster adoption of its ‘FlashBattery’ technology in electric vehicles. StoreDot’s batteries are said to use nano materials and proprietary organic compounds. They are said to enable full charging of an electric vehicle in five minutes. Earlier this year, StoreDot demonstrated a proof of its five minute charging concept.

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