StoreDot on track to delivering 100 miles of range in 5 mins of charging for EVs

StoreDot is pioneer in fast charging tech
(Image credit: StoreDot)

A pioneer in extreme fast charging tech for electric vehicles, StoreDot, has announced that it is on track to mass producing its ‘100in5’ cells as early as 2024, delivering 100 miles of charge in just five minutes.

The Israeli company is moving towards mass production of its ‘100in5’ cells in China, with its long-standing manufacturing partner, EVE Energy. Samples of EV 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. 

The company, which has raised a total of $200 million to date has now received investments from major global automotive manufacturers including India's Ola Electric, and Daimler, Volvo, Polestar and VinFast. It is already working closely with its partners to collaborate on future electric vehicle fast charging architectures. 

Dr Doron Myersdorf, StoreDot CEO said: "We now have an unprecedented group of strategic investors and partners that span the entire battery ecosystem, and we are collaborating with our partners to make Extreme Fast Charging a reality while we plan to grow our production volume capabilities."

StoreDot completes series D funding round

StoreDot battery

(Image credit: StoreDot)

Following the completion of series D funding round, StoreDot said it is now benefitting from a wide portfolio of strategic investors and partners across the entire battery ecosystem, including global automotive companies, technology specialists and manufacturing partners

Its 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 company said it is working with the relevant ecosystem of the charging value chain – from the infrastructure to the vehicle – to optimize StoreDot’s XFC technology for future EV models.

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Balakumar K
Senior Editor

Over three decades as a journalist covering current affairs, politics, sports and now technology. Former Editor of News Today, writer of humour columns across publications and a hardcore cricket and cinema enthusiast. He writes about technology trends and suggest movies and shows to watch on OTT platforms.