StoreDot in Strategic Collaboration with Volvo Cars for EV Cells

StoreDot & Volvo Cars Partner for EV Cells

StoreDot, which delves into extreme fast charging (XFC) battery technology for electric vehicles, has signed a ]multi-year agreement with Volvo Cars to develop an optimized battery for next generation Volvo cars.

The collaboration, with experts from Volvo Cars and StoreDot working together, will lead to the development of XFC cells which will be optimized and tailored for Volvo’s future electric vehicle architectures. It is expected that the first samples will be delivered for testing next year.

Dr Doron Myersdorf, StoreDot CEO, stated, “This is a highly significant agreement for both StoreDot and Volvo Cars. Our teams are now working together at pace, developing B-sample cells for Volvo Cars’ next generation fully electric architectures. There is a huge amount of work to do, optimizing all aspects of the system to meet Volvo’s exacting requirements. But we are confident that we will be delivering our fast-charging technology for real world testing as early as next year with the goal to enable Volvo Cars customers to benefit from our game changing XFC battery which enables 100 miles of range in just five minutes.”

Javier Varela, Chief Operating Officer & Deputy CEO of Volvo, remarked, “Volvo Cars is already a strategic investor in StoreDot, but this newly agreed collaboration takes our relationship a step further. We are delighted to be working together to develop advanced sample cells for our future EVs. There is a lot of work to be done but the opportunities to develop exciting new charging technologies together are huge. We can’t wait to see the fruits of our work being tested in the real world.”

Recently, StoreDot reported performance feedback for the evaluation and integration A-Samples testing phase of its XFC electric vehicle battery cells. The comprehensive testing programs took place earlier this year by 15 leading global automotive brand manufacturers from Europe, Asia, and the US, as well as several of StoreDot’s strategic ecosystem partners.

StoreDot looks into extreme fast charging (XFC) electric vehicle batteries that overcome the critical barriers to mainstream EV adoption – range and charging anxiety. The firm says it has revolutionized the conventional Li-ion battery by innovating and synthesizing proprietary organic and inorganic compounds, optimized by Artificial Intelligence algorithms, enabling to charge an EV in under ten minutes – the same experience as refuelling a conventional combustion engine car.

Through its ‘100inX’ product roadmap, StoreDot’s battery technology delivers ‘Range on Demand^TM’: 100 miles charged in five minutes in 2024, 100 miles charged in three minutes by 2028, and extreme energy density solution enabling 100 miles charged in two minutes by 2032.

StoreDot’s strategic investors and partners include BP, Daimler, VinFast, Volvo Cars, Polestar, Ola Electric, Samsung, TDK, and its manufacturing partner EVE Energy. In 2022, the firm demonstrated a live extreme fast charging of an EV battery cell in ten minutes. StoreDot claims to be on target for mass production readiness of 100in5 technology by 2025, a battery cell which enables an EV to be charged
for 100 miles, or 160 km of range in just five minutes of charging.

In June, Volvo Car India had unveiled its all-electric C40 Recharge SUV, marking the brand’s second electric vehicle (EV) in the Indian lineup.

Last year, Bengaluru based Ola Electric invested in the Israeli startup.