StoreDot licenses XFC battery to VinES
The Israeli battery developer StoreDot has entered into a cooperation with Vines Energy Solutions (VinES), the battery company of the Vietnamese Vingroup, for the joint development and commercialisation of its fast-charging battery cells.
The aim is to develop several variants of the cells and use them in VinFast’s electric cars from 2025. The Vietnamese carmaker had also invested in StoreDot in early 2022, and a battery development cooperation has also been in place since mid-2021. StoreDot says it already has a long-standing relationship with parent company Vingroup. The new agreement is intended to take the joint development work of both sides to a new level – and make it more concrete.
Specifically, the partners want to develop StoreDot’s XFC battery cells in various form factors in preparation for their mass production. StoreDot will license its proprietary XFC technology for this purpose, while VinES, for its part, will contribute expertise in the development, manufacture and validation of batteries with different form factors, as well as its global supply chain network, it says. According to the organizers, the first generation of this XFC battery cell is expected to be launched in 2025 and will be used immediately by VinFast vehicles.
StoreDot aims to bring its “100in5” battery cells, which are designed to enable the recharging of electricity for 100 miles (160 kilometres) in five minutes, into mass production in 2024 – initially in partnership with Chinese manufacturer Eve Energy. With Italvolt, a European licensee and production partner is also ready, although there is no official indication of the start of production here yet.
As is well known, StoreDot’s battery development focuses on a special silicon anode technology and the associated software integration. The goal is to develop an extremely fast charging technology – in March 2022, the Israeli company presented their technology roadmap “100inX”. The next step is to reduce this duration to three minutes by 2028, before only two minutes are to pass by 2032.
In Vietnam, construction has begun on the country’s first production facility for LFP battery cells. This is being built as part of a joint venture between VinES Energy Solutions and the Chinese battery manufacturer Gotion High-Tech, for which the Vingroup subsidiary is currently building Vietnam’s first production facility for LFP battery cells in Ha Tinh province. The facility will be designed for a capacity of five GWh per year and is scheduled to start production in the third quarter of 2024. The LFP battery cells produced there will be used in VinFast’s e-vehicles and VinES’ stationary energy storage systems.
In December 2021, VinES had also started construction of a factory in Ha Tinh for battery packs to be used in VinFast’s electric cars and buses, which was scheduled to start operations in December 2022, according to an earlier announcement. Until the cells come from the company’s own production, purchased cells will be processed into battery packs here.