Italvolt to license StoreDot’s fast charging lithium-ion battery technology
Italvolt, an Italian electric vehicle battery maker, will license extreme fast charging (XFC) technology and intellectual property rights from StoreDot, an Israeli start-up, to produce lithium-ion batteries at its proposed cell factory.
The collaboration is expected to help Italvolt scale and upgrade its battery cell production along with the technological advancements of StoreDot.
Italvolt’s proposed battery manufacturing plant in Italy will be technology-agnostic and leverage a modular production process to accelerate the company’s route to market.
StoreDot anticipates to secure a European manufacturing capacity as part of the collaboration.
Lars Carlstrom — Italvolt Founder and CEO said: “Our collaboration with StoreDot is an inflection point in our journey to deliver high-quality, lithium-ion battery cells, at scale.
“Italvolt’s technology-agnostic, modular approach to production will ensure that we remain at the forefront of the industry as battery cell technology advances.”
“We are proud to welcome StoreDot as an offtake partner, and together, we will accelerate the rollout of extreme energy density battery cells, that can support the transition to electric vehicles.”
Up on the completion of the production, StoreDot will buy Italvolt’s batteries for its own business and customers.
Doron Myersdorf — StoreDot CEO said: “This agreement lets us obtain captive capacity so we can guarantee supply of cells to our future OEM customers.
“It is extremely important that StoreDot creates these strong relationships as we rapidly move towards mass production of our extreme fast charge batteries in the coming months.
“Our advanced 100in5 technologies will eradicate charging anxiety which is currently the biggest barrier to widespread electric vehicle ownership.”
In March 2022, StoreDot revealed its ‘100inX’ product roadmap to deliver batteries capable of 100 miles of range in 5 minutes’ charge by 2024, 100 miles in 3 minutes’ charge by 2028 and 100 miles in 2 minutes’ charge by 2032.
StoreDot’s strategic investors include BP, Samsung Ventures, Daimler, Mercedes-Benz, and TDK, among others.