StoreDot, a pioneering developer of ultrafast lithium-ion batteries for EVs, has just announced a partnership with VinES Energy Solutions which will facilitate the research, development and production of ‘extreme fast charging’ (XFC) batteries for VinFast EVs.
For those unfamiliar, VinES is member of Vingroup, which specializes in R&D and manufacturing of advanced batteries for mobility and energy applications. This partnership arrives on the heels of VinFast’s strategic investment into StoreDot in 2022.
“With the XFC technology, we believe it will offer improved customer experience, provide cost savings, and remove charging time anxiety entirely,” shares Pham Thuy Linh, CEO of VinES. “With StoreDot’s team of talented scientists and experienced experts, combined with our know-how in multiple form-factor development, real production experiences, we are excited to work towards a near-future commercialisation of the XFC technology and contribute to the acceleration of the EV revolution globally.”
StoreDot’s technology leverages proprietary organic and inorganic compounds optimized by artificial intelligence algorithms to make it possible charge an EV in under ten minutes. The company also announced plans in January 2023 to open a research facility in Irvine, California which will help to accelerate StoreDot’s development of battery technology and battery material research.
“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,” shares Dr.Doron Myersdorf, StoreDot CEO. “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.”
The first generation of the XFC batteries are expected to become commercially available in 2025, at which point they will be featured in VinFast vehicles.