StoreDot Announces EV Battery Manufacturing Partnership With EVE Energy

Storedot, a developer of extreme fast charging (XFC) battery technology for electric vehicles (EVs), has announced a significant step forward on the path to commercialisation and mass production with its collaborative partnership with EVE Energy. The agreement gives StoreDot access to EVE's manufacturing footprint and the ability to mass produce its XFC battery cells.

The company will also license its technology to EVE and continue to pursue licensing agreements with other third parties.

Through its '100inX' product roadmap, StoreDot's battery technology is delivering 'Range on Demand': 100 miles charged in 5 minutes in 2024 and 100 miles charged in 4 minutes in 2026.

100 miles charged in 3 minutes was achieved in 2028.

Amir Tirosh, COO StoreDot, says: "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."

Alexander Holden, Senior Vice President EVE Energy, adds: "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."

StoreDot's strategic investors and partners include BP, Daimler, VinFast, Volvo Cars, Polestar, Ola Electric, Samsung, and TDK.