Israeli EV Battery Maker Signs New Deal With Chinese Partner

Israeli startup StoreDot, which developed extreme fast charging batteries for electric vehicles (EV), has signed a new agreement with Chinese battery producer EVE Energy. 

The new collaboration, which embellishes an already existing relationship between the two companies, will allow StoreDot to use EVE’s manufacturing capabilities to mass produce its extreme fast charging (XFC) lithium-ion battery cells that can recharge an electric vehicle in five minutes. 

StoreDot will also license its technology to EVE and search for other, new partners.  

“This newly minted agreement with EVE Energy is a pivotal inflexion point for StoreDot. We now have the agreement for captive capacity, and it gives us the ability to implement our ambition for mass production of our extreme fast charging cell technologies. This will allow us to serve our customers who do not have their own manufacturing capability,” said StoreDot COO Amir Tirosh. 

“I’m also pleased as this agreement fully cements our strong alliance with EVE Energy. We are already utilizing its world-beating manufacturing expertise in our R&D efforts. But this takes our collaboration to a new era, an era of StoreDot’s commercialization,” he said. 

“We are delighted to announce this new chapter in EVE Energy’s relationship with StoreDot,” said EVE Energy Senior Vice President Alexander Holden. 

“Mass production of its extreme fast charging battery cells is the next step in the company’s hugely impressive trajectory, and we are delighted to utilize our global manufacturing expertise to help facilitate this. This is a highly significant partnership, and we are excited to be able to help deliver StoreDot’s proven XFC technology to leading electric vehicle manufacturers.”