Vinfast enters StoreDot and wants to use their XFC technology

Vinfast enters StoreDot and wants to use their XFC technology-enters

Storedot, an Israeli start-up, has managed to lift the loading of e-cars to a new level with its XFC battery technology (extreme fast charging). This was recognized as part of the series-D financing round of up to 80 million US dollars according to investors. The round is led by important strategic investors and strengthens the partnerships of Storedot in the global ecosystem for e-auto batteries. The main investor is the fast-growing Vietnamese electric vehicle manufacturer VinFast, which plans to expand production and use StoreDots Extreme Fast Charging Technology in future e-models.

Finally, we have reported that the start-up has made XFC cells that can be charged in 10 minutes and maintain at least 80% energy after 850 successive fast charging cycles with an energy density of 300Wh / kg and 680 Wh / l. In early 2022, it is expected that 1.000 consecutive XFC cycles are exceeded. In addition to VinFast, BP Ventures, an investor and active partner of StoreDot has been involved in the company, also invested in the company. In addition, Golden Energy Global Investment Ltd, a company owned by Eve Energy, Dr. Liu Jincheng, one of the participants of the financing round.

“This strategic round of financing with main investors from leading automotive, energy and technology companies is a great deal of confidence in Storedot, its XFC battery technologies, our long-term product roadmap and our first-class technology and innovation, all aiming at the range of EV drivers to solve. We are now sufficiently funded to make our silicon-dominated XFC cells up to the end of F&E-phase and to drive up to serial maturity in 2024 for global vehicle manufacturers. It will help to overcome the main obstacle to the possession of an electric vehicle – the loading times – by shortening the loading times by 50% and ultimately helps us create an emission-free, clean world.”- DR. Doron Myersdorf, CEO of Storedot

In addition to the energy company BP, Daimler AG, TDK and Samsung are also involved in StoreDot. The start-up uses novel electrolyte solutions and nanomaterials in lithium-ion batteries. This allows batteries that can be loaded in just five minutes or even faster. First prototypes are currently creating this in ten minutes. The funds from the current investment round are used to complete the research and development work for silicon-dominated XFC battery cells and continue the development of cells with extreme energy density based on solid state technology for future use. Financing also enables the company to expand its California Resident Research and Development Center and take operation to the most important locations worldwide to be ready for mass production of cells in 2024.

Also from the side of VinFast you show yourself confident, regarding the plans of Storedot. “The improvement of the customer experience has top priority for us. We have committed ourselves to research and associated global intelligence through partnerships with and investment in groundbreaking technology companies, especially in the field of EV batteries such as Storedot and its proprietary XFC technology (extreme fast charging). Storedot, which is guided by gifted scientists and experienced entrepreneurs, is expected to go into mass production with strong support of VinFast and other strategic investors, “says Pham Thuy Linh, Deputy CEO of Vinfast about the investment in the Israeli company.

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1 thought on “Vinfast enters StoreDot and wants to use their XFC technology”

  1. <Yawns> … Since 2017, Storedot supplies promises: at that time with the so-called flash battery technology, in which within only a few minutes of energy could be charged for almost 500 kilometers.
    To date, I see there no In practice-running product ..

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