Israel-based StoreDot, a leading company focussing on extreme fast charging (XFC) battery technology for electric vehicles has announced a collaborative partnership with China’s EVE Energy that will help commercialise and mass produces its battery cells.
As per the understanding, StoreDot will get access to EVE’s extensive manufacturing footprint and the ability to mass produce its 100in5 extreme fast charging battery cells. It 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 “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 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 commercialisation.”
Alexander Holden, Senior VP, EVE Energy said, “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.”
EVE Energy began its relationship with StoreDot in 2017 and announced a significant EVE affiliated investment in the business in 2021. It is now firmly established 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. Its global footprint extends to 10 sites in China, with facilities under construction or in planning elsewhere in Asia, Europe, and North America.
