StoreDot, a company developing extreme fast charging (XFC) batteries for electric vehicles, has partnered with EVE Energy, a major battery manufacturer, particularly for electric vehicles, to mass produce their extreme fast charging (XFC) battery technology. This partnership could significantly accelerate the adoption of EVs by addressing range anxiety, a major concern for potential EV buyers.
The agreement gives StoreDot access to EVE’s extensive manufacturing footprint. It also provides the ability to mass produce its game-changing 100in5 extreme fast charging battery cells. StoreDot will secure manufacturing capacity from EVE to produce its XFC batteries. The company will also license its technology to EVE. It will continue to pursue licensing agreements with other third parties, in conjunction with creating its own global captive capacity.
StoreDot will produce its cells from EVE’s highly advanced production lines in the future. These cells will directly deliver to the company’s customer portfolio of global electric vehicle manufacturers.
Amir Tirosh, COO StoreDot: “This newly minted agreement with EVE Energy is a pivotal inflexion point for StoreDot. We now have the agreement for captive capacity. It gives us the ability to implement our ambition for mass production of our extreme fast charging cell technologies. This will allow us to serve our customers who do not have their own manufacturing capability.
“I’m also pleased as this agreement fully cements our strong alliance with EVE Energy. We are already utilizing its world-beating manufacturing expertise in our R&D efforts. But this takes our collaboration to a new era, an era of StoreDot’s commercialization.”
Alexander Holden, Senior Vice President EVE Energy: “We are delighted to announce this new chapter in EVE Energy’s relationship with StoreDot. The mass production of its extreme fast charging battery cells is the next step in the company’s hugely impressive trajectory. We delight in utilizing our global manufacturing expertise to help facilitate this. This is a highly significant partnership, and we are excited to be able to help deliver StoreDot’s proven XFC technology to leading electric vehicle manufacturers.”
StoreDot is a world leader in silicon-dominant chemistries that are essential for electric vehicles to be able to charge at extremely high speeds. Moreover, the company will continue to enhance its partnerships with other automotive manufacturers. It will also collaborate with manufacturing partners to scale up its global manufacturing footprint and capacity to support global car makers.
Through its ‘100inX’ product roadmap, StoreDot’s remains on track with production-readiness of XFC cells that can deliver 100 miles charged in 5 minutes this year, 100 miles charged in 4 minutes in 2026 and 100 miles charged in 3 minutes by 2028.
EVE Energy began its relationship with StoreDot in 2017 and announced a significant EVE affiliated investment in the business in 2021. It is also now firmly established as one of the world’s leading battery manufacturers. It is in the top 10 suppliers of cells for electric vehicles, with close ties to many leading automotive manufacturers. The global footprint spans ten sites in China, with construction or planning underway across Asia, Europe, and North America.
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