StoreDot, which has raised a total of $200M to date has now received investments from major global automotive manufacturers including Daimler, Volvo, Polestar, VinFast and Ola Electric. It is already working closely with its partners to collaborate on future electric vehicle fast charging architectures.
The company is moving towards mass production of its '100in5' cells in China, with its long-standing manufacturing partner, EVE Energy. Samples of Electric Vehicle size pouch cells are already being shipped for testing by automotive manufacturers. In addition, cylindrical cells in both 2170 and 4680 formats are currently being optimized and are planned to be sampled later this year.
Further long-standing partners include BP Ventures, which is a mutual advocate for fast-charging and the need to align the charging infrastructure with the ecosystem efforts, as well as TDK and Samsung Ventures. StoreDot has also received significant backing from three venture capital funds.
Last month StoreDot completed a live demonstration showcasing its extreme fast charging battery technology already capable of delivering 100 miles in 5 minutes. The demonstration took place at EcoMotion Week 2022 in Israel, an increasingly popular global event that brings together leading EV makers.