VinES and StoreDot cooperate to develop super fast charging battery

Following VinFast 's strategic investment in StoreDot's D round of funding in early 2022, this cooperation agreement marks a new important step, helping the parties promote advanced battery technology, realizing the launch of XFC battery solutions for the green energy mobility market, including VinFast's smart electric vehicle products.

Under the agreement, VinES and StoreDot will jointly research and develop ultra-fast charging (XFC) battery cells in various battery forms, preparing for the production and supply of XFC battery cells in the future. StoreDot will license and share ultra-fast charging technology, while VinES will provide and contribute experiences in developing battery cell forms, deploying production, evaluating, certifying and managing the global supply chain.

It is expected that this first generation of super-fast charging batteries will be mass-produced in 2025 and immediately applied to VinFast electric vehicles.

Sharing about the cooperation, Ms. Pham Thuy Linh, General Director of VinES said: “Cooperating with StoreDot is one of VinES's important strategies to apply new global technologies to VinES's modern electric vehicle battery cell production capacity and production line in Vietnam. With super-fast charging technology, we believe it will bring better experiences to users, help save costs and eliminate worries about vehicle charging time. With a team of talented scientists and experienced experts from StoreDot, combined with VinES's experience in researching and developing various battery forms and production capacity, we will soon commercialize super-fast charging technology and contribute to promoting the global electrification revolution.”

Dr. Doron Myersdorf, CEO of StoreDot also said: "We are very pleased to cooperate with VinES and continue to strengthen the cooperation with Vingroup and VinFast. This is an important cooperation as we are constantly seeking and building cooperative relationships with businesses that own complete electric vehicle battery ecosystems like Vingroup. I believe that the combination of StoreDot's super-fast charging batteries and VinES's development, manufacturing, evaluation, certification and supply chain capabilities will bring world-class quality electric vehicle battery products, thereby raising the overall standards for the entire industry."

Last year, StoreDot announced its “100inX” strategic technology roadmap, which includes three generations of StoreDot battery technology: 100in5 (100 miles in 5 minutes of charging) - High-density silicon electrode technology, 100in3 (100 miles in 3 minutes of charging) - Semi-solid state battery; 100in2 (100 miles in 2 minutes of charging) - Lithium structure electrode battery. Accordingly, StoreDot plans to launch 100in5 technology from 2024, 100in3 from 2028 and 100in2 from 2032.

In January 2022, StoreDot also announced VinFast as the lead investor in its Series D funding round worth $80 million.

StoreDot is a pioneer and leader in ultra-fast charging (XFC) batteries, solving a key barrier to EV adoption: driving range and charging time. The company has revolutionized conventional Li-ion batteries by designing and synthesizing proprietary organic and inorganic compounds, optimized by Artificial Intelligence algorithms, enabling users to charge an EV in under 10 minutes – the same time it takes to refuel a conventional internal combustion engine vehicle.

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