GGPI Stock: Polestar’s New StoreDot Partnership Could Accelerate the EV Revolution

Shares of $Gores Guggenheim(GGPI.US)$ stock are in focus today after Polestar announced that it would partner with and invest in StoreDot. StoreDot produces “fast-charging silicon-dominant batteries” for electric vehicles. Polestar’s investment in the company is part of the EV charging company’s Series D investment round, which includes other investors like Samsung $SAMSUNG EL 144(SSNGY.US)$ and $DAIMLER AG ADR(DMLRY.US)$
A major barrier to entry for EVs is the waiting time required to charge a vehicle. Depending on the battery and type of charger, it can take anywhere from 30 minutes to half a day to fully charge an EV. StoreDot is trying to fix this problem by “producing its ‘100in5’ technology as early as 2024.” This technology seeks to provide EVs with 100 miles of range in only five minutes of charging time.
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