Israeli startup StoreDot has said it is on track to start producing its fast-charging batteries later this year as part of an update on its global manufacturing strategy.
The company says its proprietary technology for fast-charging EV batteries enables EV charging in under ten minutes.
Spanning three continents, US, Europe and Asia, StoreDot’s strategy is focused on localising its supply chain to reduce carbon impact and enabling just-in-time production efficiency.
StoreDot will produce its batteries in existing and future local gigafactories, rather than building its own facilities in the mid-term.
The company says production is on track to start later next year. In the interim, StoreDot will continue to develop its cells in its labs in the US and Israel.
StoreDot CEO Dr Doron Myersdorf said: “Today’s announcement is an important milestone for StoreDot as we build our global supply chain and manufacturing footprint. We look forward to working with our OEM partners in the US, Europe, and Asia to supply them with our world class extreme fast charging batteries.
“It’s important that leading battery developers like StoreDot can deliver batteries consistently, efficiently, conveniently, and sustainably, as we care greatly about the environmental impact of battery supply chains. By serving our OEM customers from their own locations we can do this more effectively while demonstrating our commitment to net zero.”
To date StoreDot has received investments from global automotive manufacturers including Daimler, VinFast, Volvo Cars, Polestar and Ola Electric.