StoreDot wins Kumyang as partner for battery production
The abbreviation XFC used by StoreDot stands for ‘Extreme Fast Charging.’ The Israeli company has made it its mission to develop electric car batteries that can charge from 10 to 80 per cent in just ten minutes. StoreDot has already demonstrated this with a prototype of the Polestar 5.
The collaboration with Kumyang should now lead to the mass production of XFC cylinder cells. Kumyang will licence StoreDot’s XFC technology and implement it in its production lines for cylindrical cells, with a focus on the large-format 4680 family. StoreDot expects these cylindrical cells to match the breakthrough performance of its XFC technology, which is already delivered in prismatic and pouch formats. Initial testing of the 4695 format has shown exceptional results, with a projected life of more than 1,000 charge cycles at standard charge rates. In addition, these cells have a volumetric energy density of over 800 Wh/L, offering a transformative solution for various industries.
“This license agreement is an important milestone for StoreDot that will make our XFC technology available in the cylindrical format, in addition to the pouch and prismatic formats currently available,” said Dr Doron Myersdorf, CEO of StoreDot. “This license agreement with Kumyang is a pivotal step towards making XFC technology accessible to key EV OEMs awaiting our XFC technology in cylindrical format, ultimately enabling drivers to spend less time charging and more time on the road.”
“This partnership with StoreDot represents a significant leap forward for Kumyang and the entire EV battery industry,” said Ryu Kwanghyun, CEO of Kumyang. “We are incredibly excited to integrate StoreDot’s revolutionary XFC technology into our 4680 cylindrical cell production. This collaboration aligns perfectly with our commitment to delivering cutting-edge battery solutions that empower the widespread adoption of electric vehicles. By combining StoreDot’s groundbreaking fast-charging capabilities with our manufacturing expertise, we are poised to deliver high-performance, long-lasting cylindrical cells that will redefine the EV charging experience.”
The agreement follows a joint programme between StoreDot and Kumyang, where both partners have collaborated on optimising cell design and achieving state-of-the-art performance results at Kumyang’s facility. The teams focused on achieving high energy density along with XFC capabilities – a critical combination for the widespread adoption of electric vehicles.
The licence agreement represents an important milestone for StoreDot as it enables the first mass production of XFC in cylindrical cells. This will enable electric car OEMs worldwide to offer vehicles that enable significantly faster charging times without compromising range.
It was only in February that StoreDot announced that it would be setting up a joint venture with JR Energy Solution, a South Korean battery technology company, to mass-produce ultra-fast charging batteries. Under the partnership, JR Energy Solution’s production technology will be used to manufacture StoreDot’s XFC batteries. StoreDot’s strategic investors and partners include BP, Daimler, VinFast, Volvo Cars, Polestar, Ola Electric, Samsung and TDK.
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