StoreDot & EVE to develop faster-charging battery by 2024
The Israeli battery developer StoreDot has concluded a strategic framework agreement with the Chinese battery manufacturer EVE Energy. According to the agreement, the fast-charging “XFC FlashBattery” with silicon-dominant anode developed by StoreDot is to be commercialised.
The first samples are to be made available for testing in the coming months, according to StoreDot. Mass production in ordinary production lines for lithium-ion batteries is planned for 2024. StoreDot calls the agreement an “important milestone towards the commercialisation of the ‘5-minute charge’ battery”.
The Israeli company had demonstrated in an interim step in 2019 that their technology could charge the battery of an electric scooter in five minutes. The first development samples were demonstrated to potential partners in early 2021.
The framework agreement now concluded is not the first collaboration between the companies: EVE Energy has been working with StoreDot since 2018 to develop the XFC battery into a smaller form factor, namely the battery from the electric scooter demonstrator. According to the updated agreement, the technology is now to be scaled up, and there are also plans to set up a joint venture for mass production – StoreDot is not yet giving details on this.
As StoreDot CEO Doron Myersdorf emphasises, no expensive special equipment will be needed for mass production; production will take place on “completely ordinary lithium-ion production lines”. “Securing sufficient production capability is one of the biggest challenges facing any introduction of a new battery technology to market,” says Myersdorf. “Our silicon-dominant anode battery represents the next crucial stage of our journey by bringing the charging speed, cost and range of XFC batteries in-line with the requirements of the EV industry. These capabilities will be demonstrated later this year via our first EV form factor prototype produced with EVE Energy.”
Myersdorf also stressed the importance of EVE’s “specialised expertise” in making some of the milestones possible. Liu Jincheng, Chairman of the Board at EVE, attests to the XFC battery’s “enormous potential”. “XFC technology is extremely important for the faster acceptance of vehicles without combustion engines,” says the manager. “Reservations regarding range and charging times are thus eliminated.”
In its current products, EVE Energy specialises in lithium iron phosphate (LFP) batteries. According to the latest rumours from China, EVE is in advanced negotiations with Tesla to become the second supplier of LFP cells alongside CATL for the American carmaker’s Giga Shanghai.