StoreDot, the vanguard of extreme fast charging (XFC) battery technology for electric vehicles, unveils a strategic leap towards commercialization and mass scalability through a partnership with EVE Energy.
Sealed today, this alliance grants StoreDot access to EVE’s expansive manufacturing capabilities, paving the way for the mass production of its transformative 100in5 extreme fast charging battery cells.
StoreDot will harness manufacturing prowess from EVE to produce its XFC batteries, alongside licensing its technology to EVE. This agreement aims at expanding licensing endeavors with additional entities while bolstering StoreDot’s global manufacturing reach.
This collaboration anticipates the production of StoreDot’s cells on EVE’s advanced production lines, ensuring direct supply to an international array of electric vehicle manufacturers.
Amir Tirosh, COO of StoreDot, articulates, “This newly minted agreement with EVE Energy is a pivotal inflexion point for StoreDot. We now have the agreement for captive capacity, and 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,” Tirosh added.
Alexander Holden, Senior Vice President at EVE Energy, expresses enthusiasm: “We are delighted to announce this new chapter in EVE Energy’s relationship with StoreDot. Mass production of its extreme fast charging battery cells is the next step in the company’s hugely impressive trajectory, and we are delighted to utilize 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,” Holden added.
StoreDot, a leader in silicon-dominant battery chemistries, continues to fortify partnerships across the automotive sector, aiming to expand its manufacturing footprint and capacity globally to meet the demands of car makers.
Under its ‘100inX’ roadmap, StoreDot is poised to achieve production-readiness of XFC cells capable of delivering 100 miles of charge in 5 minutes within this year, progressing to 100 miles in 4 minutes by 2026, and achieving 100 miles in 3 minutes by 2028.
Since initiating its partnership with StoreDot in 2017 and announcing a significant investment in 2021, EVE Energy has solidified its position as a leading global battery manufacturer.
Ranking among the top 10 suppliers of cells for electric vehicles, it boasts close connections with major automotive manufacturers and an expanding global presence, with ten sites across China and additional facilities underway in Asia, Europe, and North America.
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