In a unique collaboration that will attempt to abolish long wait times for EV charging, StoreDot and VinFast have agreed to partner in developing the world’s fastest-charging electric vehicle battery.
StoreDot is an Israeli company specializing in the early-stage development of extreme fast-charging (XFC) battery cells that are set to rival some of the biggest names in the industry. Meanwhile, VinFast is a Vietnamese company building next-generation electric cars, making the two companies an obvious partnership candidate to solve EV charging problems.
One of the most significant issues in EV charging is wait times, and StoreDot may have found the solution. Over the past few years, the company has built prototypes and samples of XFC cells that will offer as much as 100 miles of range in as little as two minutes.
It currently has three generations of samples – 100in5, 100in3, and 100in2- all of which utilize silicon-dominant XFC, semi-solid state, and post-lithium architecture.
The 100in5 battery cell prototype has also been shipped to several automakers, including Daimler, VinFast, Volvo, Polestar, and Ola Electric.
Now, StoreDot and VinFast are planning to collaborate with their two areas of expertise to prepare for the development and eventual availability of the XFC cell.
StoreDot will license and share its proprietary XFC technology with VinFast. At the same time, VinFast will “contribute its know-how and experience with multiple form factor development, manufacturing, validation, and global supply chain network.”
The cell is expected to be commercially available in two years.
VinFast was a major contributor to StoreDot’s investment offering in January 2022, where the Vietnamese automaker contributed $80 million to the Israeli company’s Series D funding round.
StoreDot CEO Dr. Doron Myersdorf is excited about the possibilities that could come from the two companies working together:
“We’re delighted to be partnering with VinES and further cementing our long-standing relationships with Vingroup and VinFast. This venture is an important one for us as we look to build more partnerships with companies at every level of the EV battery ecosystem such as Vingroup. I’m confident that the combination of our XFC cell chemistry and VinES’s complimentary form-factor development, manufacturing, evaluation, certification, and supply chain capabilities will deliver world-class market-leading EV batteries that will raise the bar further for the industry.”
VinFast CEO Ms Pham Thuy Linh said the partnership will offer improved customer experience and affordability, alleviate charging time, and range anxiety concerns from EV customers.
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