StoreDot, the Israel-based electric vehicle battery startup, now ships the production-ready ‘100 miles of range in 5 min of charging’ EV cell samples to its strategic EV OEM partners and potential customers, as announced in March.
Electrek reported that Polestar, Mercedes-Benz, VinFast, BP, Samsung, and TDK are currently StoreDot’s investors. However, its partners are not yet publicized.
Meanwhile, PitchBook (via Reuters) disclosed that StoreDot, as a 10-year-old company, has secured $269 million at a valuation of $1.3 billion. Earlier in 2022, the business completed a Series D round of funding.
Going back to the technology, the 30 Ah silicon-dominant anode and Li-ion pouch cells used in the “100in5” batteries are shipped in an EV form. According to StoreDot, its cell samples may travel 100 kilometers in five minutes “consistently and without compromising battery’s health.”
Together with its Chinese manufacturing partner, EVE Energy, StoreDot is actively preparing its “100in5” cells for mass production. In 2024, StoreDot plans to start manufacturing the battery cells in bulk.
Amir Tirosh, the chief business officer at StoreDot, said:
“Our journey will not end there, as we confidently continue with our strategic goal of providing 100 miles of range with just 3 minutes in 2028, and in 2 minutes of charging within a decade.”
In retrospect, StoreDot claimed at the beginning of September 2021 that it had created the first 4680 cylindrical cells that can charge in just 10 minutes.
The startup also said in November 2021 that it was the first to mass produce XFC cells for electric automobiles.
Additionally, StoreDot unveiled new patented technology in December 2021 that employs a background repair system to enable battery cells to regenerate while they are being used.
