StoreDot and VinFast Partner to Develop the World's Fastest-Charging EV Battery

StoreDot and VinFast Partner to Develop the World's Fastest-Charging EV Battery

StoreDot, an Israeli company specializing in extreme fast-charging (XFC) battery cells, and VinFast, a Vietnamese company focused on building next-generation electric cars, have joined forces to develop the world's fastest-charging electric vehicle (EV) battery. This collaboration aims to address the long wait times associated with EV charging and provide a solution that significantly reduces charging times.

StoreDot has been at the forefront of developing XFC battery cells that can rival industry giants. In recent years, the company has created prototypes and samples of XFC cells capable of offering up to 100 miles of range in just two minutes. StoreDot has three generations of samples, including the 100in5, 100in3, and 100in2, each utilizing silicon-dominant XFC, semi-solid state, and post-lithium architecture.

The 100in5 battery cell prototype has already been sent to several automakers, including Daimler, VinFast, Volvo, Polestar, and Ola Electric. Building on this progress, StoreDot and VinFast are pooling their expertise to develop and make the XFC cell widely available. StoreDot will license and share its proprietary XFC technology with VinFast, while VinFast will contribute its knowledge and experience in form factor development, manufacturing, validation, and global supply chain networks.

The commercial availability of the XFC cell is expected within the next two years. VinFast's significant contribution to StoreDot's Series D funding round in January 2022, amounting to $80 million, showcases their commitment to this joint venture.

StoreDot's CEO, Dr. Doron Myersdorf, expressed his excitement about the partnership, stating, "We're delighted to be partnering with VinFast and further cementing our long-standing relationships with Vingroup and VinFast. This venture is an important one for us as we look to build more partnerships with companies at every level of the EV battery ecosystem." Dr. Myersdorf is confident that combining StoreDot's XFC cell chemistry with VinFast's complementary form-factor development, manufacturing, evaluation, certification, and supply chain capabilities will result in market-leading EV batteries that raise industry standards.

Ms. Pham Thuy Linh, VinFast's CEO, believes that this partnership will enhance the customer experience and affordability of EVs. By significantly reducing charging times and addressing range anxiety concerns, the collaboration aims to provide a solution that benefits EV customers.

The joint effort between StoreDot and VinFast marks an exciting step towards revolutionizing the EV industry. With their combined expertise, the development of the world's fastest-charging EV battery is within reach. As the demand for EVs continues to grow, innovations like these will play a vital role in overcoming charging infrastructure challenges and driving the widespread adoption of electric vehicles.