Volvo invests in Israeli electric car battery maker StoreDot

There is growing demand for electric vehicles in Israel. Like cars that run on gasoline, electric cars come with environmental concerns.
An employee works at StoreDot's headquarters in the Israeli coastal city of Herziliya on Feb. 16, 2021.
An employee works at StoreDot's headquarters in the Israeli coastal city of Herziliya on Feb. 16, 2021. - EMMANUEL DUNAND/AFP via Getty Images
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Adam Lucente
@Adam_Lucente

An Israeli producer of electric car batteries announced today new investment from the Swedish car giant Volvo. 

StoreDot said that Volvo’s venture capital arm made a “strategic investment” for an unspecified amount of money. The partnership will allow StoreDot and Volvo to collaborate on battery technology, StoreDot said in a press release. 

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