The company is now on track to deliver its 100in5 silicon-dominant extreme fast charging batteries to EV OEMs by next year that will provide 100 miles of range in five minutes of charge.
With StoreDot’s XFC technology, OEMs will be able to optimize a vehicle’s weight and cost, rather than pushing for ever greater range and battery size.
StoreDot’s XFC battery cells are now being tested by more than 15 global automotive manufacturers, while the company continues to develop its manufacturing partnerships on a global scale.
Dr Doron Myersdorf, StoreDot CEO said, “Up until recently OEMs were increasing the size of battery packs in their EVs because a proportion of drivers were transitioning from gas to electric for the first time with the known ‘range anxiety’ in their minds.
“Those drivers, and anyone who is an EV advocate now realize that range anxiety is no longer the most pressing issue – and won’t even be an issue at all once public charging infrastructure around the world is properly in place.
“The two remaining barriers to EV ownership are charging anxiety and cost, and StoreDot’s XFC solution was designed to assist with both.
“Radically reduced charging times will allow automotive manufacturers to rethink how they approach battery size and range. When charging times are no longer an issue, it makes a lot more sense to fit smaller battery packs.
“The cost savings could transform the accessibility of EVs and sustainability of batteries, with better car efficiency, fewer raw materials needed and less recycling at the end of their in-vehicle life.”