StoreDot's Fast-Charge EV Battery Gains Traction - The EV Report

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StoreDot’s extreme fast charging (XFC) technology has reached significant milestones, setting the stage for mass adoption by electric vehicle (EV) manufacturers by 2026. With five major automakers already on board, StoreDot’s innovative battery addresses consumer concerns about charging infrastructure and aims to make charging as quick as refueling a traditional car.

Key Highlights

StoreDot, based in Irvine, Calif., and Herzliya, Israel, has entered Q4 2024 with a series of achievements that reflect its journey toward commercialization. The company has partnered with five of the top ten original equipment manufacturers (OEMs), as part of its 15 active testing programs, to integrate its silicon-based XFC battery into future EV models. This battery is production-ready, charges twice as fast as current premium batteries, and maintains durability without additional degradation.

The automotive industry has recently faced setbacks, with several major automakers reducing EV production due to a slowdown in demand, particularly in Europe, where government subsidies are declining. A significant barrier to further adoption remains the limited charging infrastructure and lack of fast-charging capabilities, issues that StoreDot’s technology effectively resolves.

Throughout 2024, StoreDot has worked with leading OEMs to verify its battery’s performance, with one notable achievement being a successful demonstration in a Polestar 5 prototype. The company is currently collaborating with at least five major car manufacturers to customize and fit its XFC technology into specific vehicle models, incorporating the 10-minute charging capability.

By offering a production-ready, long-range EV battery that charges in just 10 minutes, StoreDot solidifies its standing as a leader in fast-charging technology, tackling the market’s main concern of charging time. The company’s “drop-in” solution allows OEMs to adopt the technology without additional capital expenditures, further simplifying the process of bringing fast-charging capabilities to market.

StoreDot CEO and Co-Founder, Dr. Doron Myersdorf, noted, “We’re proud to check the box on yet another commercial milestone. Partnering with leading OEMs allows us to continue optimizing our XFC technology, while charging from 10-80 percent in only 10 minutes. At StoreDot we predict that XFC technology will evolve from a premium feature to a standard in all EV models, solving charging and range anxiety.”

StoreDot is pioneering a path for extreme fast charging that aims to overcome critical barriers to mainstream EV adoption, specifically range and charging anxiety. Its “100inX” roadmap projects significant advancements, including charging 100 miles in under 5 minutes by 2024, reducing this to 4 minutes by 2026, and ultimately 3 minutes by 2028. Backed by strategic partners including BP, Daimler, and Volvo, StoreDot’s technology represents a significant leap forward in the EV industry.

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