Storedot, the Israeli battery fast charging company, and Eve Energy, the Chinese battery manufacturer, entered a mass production agreement to manufacture extremely fast charging (XFC) batteries.
The deal covers Storedot’s 100in5 XFC cells. The company gains access to Eve Energy’s mass production lines for delivery to global EV manufacturers.
Storedot will continue to license its technology to Eve Energy and pursue licensing agreements with other third parties, in conjunction with creating its own global captive capacity, it said. The cooperation started in 2017 and was intensified in 2021 when Eve announced a significant investment in Storedot.
“I’m 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,” said Amir Tirosh, COO of Storedot. Financial details were not disclosed.
Eve is ranked number four among China’s battery producers and 10th worldwide, according to SNE Research. The group currently boasts a global manufacturing footprint spanning 10 sites in China, with facilities under construction or in planning in Asia, Europe and North America.
Storedot, which develops silicon-dominant battery chemistries, claims to be on track with production-readiness of the XFC cells that can deliver 100 miles charged in 5 minutes this year. The goal is to deliver 100in2 by 2032.
