STOREDOT - StoreDot, the pioneer of extreme fast charging technologies for electric vehicles, is signalling its ambitions for rapid growth with a network of strategic global investments and partnerships that spans the entire battery ecosystem. The company is on track to begin mass producing its ‘100in5’ cells as early as 2024, delivering 100 miles of charge in just five minutes.
StoreDot,
which has raised a total of $200M to date has now received investments from
major global automotive manufacturers including Daimler, Volvo, Polestar,
VinFast and Ola Electric. It is already working closely with its partners to
collaborate on future electric vehicle fast charging architectures.
The
company is moving towards mass production of its ‘100in5’ cells in China, with
its long-standing manufacturing partner, EVE Energy. Samples of Electric
Vehicle size pouch cells are already being shipped for testing by automotive
manufacturers. In addition, cylindrical cells in both 2170 and 4680 formats are
currently being optimized and are planned to be sampled later this year.
Dr Doron Myersdorf,
StoreDot CEO “Our
growing global network of strategic partnerships and our expanding geographical
footprint demonstrate that StoreDot is much more than just an innovator of
extreme fast-charging battery technologies. We now have an unprecedented group
of strategic investors and partners that span the entire battery ecosystem, and
we are collaborating with our partners to make Extreme Fast Charging a reality
while we plan to grow our production volume capabilities.
“We
are now working with the relevant ecosystem of the charging value chain – from
the infrastructure to the vehicle – to optimize StoreDot’s XFC technology for
future EV models.
“It is
therefore essential that we engage with the right partners including a global
manufacturing footprint, to rapidly progress towards volume production in 2024.
Moreover, our roadmap for automotive manufacturers spans into the next decade,
by which time we target to achieve 100 miles of range in just two minutes of
charge.”
Further
long-standing partners include BP Ventures, which is a mutual advocate for
fast-charging and the need to align the charging infrastructure with the
ecosystem efforts, as well as TDK and Samsung Ventures. StoreDot has also
received significant backing from three venture capital funds.
Last month StoreDot completed a
live demonstration showcasing its extreme fast charging battery technology
already capable of delivering 100 miles in 5 minutes. The demonstration took
place at EcoMotion Week 2022 in Israel, an increasingly popular global event
that brings together leading EV makers.