StoreDot has said it’s on track to start mass-producing its extreme fast charging batteries by 2024, supported by a new network of key strategic partners that can help fast-track its growth.  

StoreDot is moving towards mass-production of its ‘100in5’ cells, which can deliver 100 miles of charge in five minutes

The company has now completed its series D funding round and has raised a total of $200m (£160m) to date. This includes investments from Polestar as announced earlier this month, along with other major automotive firms including Daimler, Volvo, VinFast and Ola Electric that StoreDot will work with on future electric vehicle fast charging architectures.   

It’s also moving towards mass production of its ‘100in5’ cells in China, in partnership with long-standing manufacturing partner, EVE Energy. These can deliver 100 miles of charge in just five minutes and are about to undergo testing by automotive manufacturers.    

And the firm’s plans into the next decade will see it target 100 miles of range in just two minutes of charge.  

CEO Dr Doron Myersdorf said StoreDot’s growing global network of strategic partnerships and its expanding geographical footprint demonstrated that it was “much more than just an innovator of extreme fast-charging battery technologies”.   

He continued: “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.”  

Myersdorf added that the business was also working with partners across the entire battery ecosystem – from the infrastructure to the vehicle – to optimise StoreDot’s XFC technology for future EV models.   

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.   

The firm’s extreme fast charging battery technology was showcased last month in a live demonstration at EcoMotion Week 2022 in Israel.