StoreDot said its network of strategic global investments and partnerships that spans the entire battery ecosystem has it on track to begin mass producing its '100in5' cells as early as 2024, delivering 100 miles of charge in five minutes.
StoreDot, which has raised a total of $200 million to date, has now received investments from global automotive manufacturers including Daimler, Volvo, Polestar, VinFast and Ola Electric. It is already working with its partners to collaborate on future electric vehicle fast charging architectures.
The company is moving towards mass production of its '100in5' cells in China, with its long-standing manufacturing partner, EVE Energy. Samples of electric vehicle 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.
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 backing from three venture capital funds.