Storedot signs manufacturing agreement with EVE Energy

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StoreDot, a pioneer in extreme fast charging (XFC) battery technology for electric vehicles, has announced a significant step forward in terms of commercialisation with the signing of a collaborative partnership with EVE Energy.

The agreement gives StoreDot access to EVE’s extensive manufacturing footprint and the ability to mass produce its 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 and continue to pursue licensing agreements with other third parties, in conjunction with creating its own global captive capacity.

The deal will facilitate StoreDot’s cells being produced from EVE’s highly advanced production lines in the future, to be delivered directly to the company’s customer portfolio of global electric vehicle manufacturers.

Amir Tirosh, COO StoreDot said, “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.

“We are already utilising 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 added, “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 utilise 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 leading the development of silicon-dominant chemistries that are essential for electric vehicles to be able to charge at extremely high speeds. The company will continue to enhance its partnerships with other automotive manufacturers and 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 back in 2017 and announced a significant EVE affiliated investment in the business in 2021 and has established itself as one of the world’s leading battery manufacturers and is in the top 10 suppliers of cells for electric vehicles, with close ties to many leading automotive manufacturers.