StoreDot, EVE Energy partner for mass production of 'XFC' battery cells

Israeli battery technology firm StoreDot has announced a significant step towards the commercialization and mass production of its extreme fast charging (XFC) battery cells, by collaborating with the Chinese cell manufacturer EVE Energy. 

According to the company, the latest agreement secures access to EVE's extensive manufacturing footprint and the ability to mass produce its advanced '100in5' extreme fast charging battery cells, including a significant manufacturing capacity for the same. 

The company will also license its technology to EVE and continue to pursue licensing agreements with other third parties, in conjunction with creating its own global captive capacity, it added. 

The latest deal will facilitate StoreDot's cells being produced from EVE's highly advanced production lines in the coming years, thereby moving closer to customer adoption by global electric vehicle manufacturers.

Amir Tirosh, COO StoreDot, commented, "This 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", he added.

StoreDot, a developer of silicon-dominant battery chemistries, claims to be on track with production-readiness of the 'XFC' cells that can deliver 100 miles charged in 5 minutes this year, with the technology expected to evolve to offer 100 miles charged in 4 minutes in 2026 and in 3 minutes by 2028.

"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", said Alexander Holden, Senior Vice President EVE Energy.

"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", he noted.

This is indeed not the first moment of collaboration between the two companies. EVE Energy began its relationship with StoreDot in 2017 and announced a significant EVE affiliated investment in the business in 2021.

EVE Energy currently boasts a global manufacturing footprint spanning ten sites in China, with facilities under construction or in planning in Asia, Europe, and North America.