StoreDot, an Israeli next-generation battery startup, has signed a new framework agreement with its Chinese battery manufacturing partner, EVE Energy, to support the commercialization of StoreDot’s extreme fast-charging (XFC) batteries for electric vehicles (EV).

The scope of the new framework agreement includes scaling up StoreDot’s XFC technology, followed by the production of engineering samples targeted at showcasing the technology to EV clients. The framework agreement also covers the intention to set up a joint venture for mass production. The first prototypes are expected to be available for testing later this year, with a plan for mass production via traditional lithium-ion battery manufacturing lines in 2024.

Founded in 2012, StoreDot develops XFC EV batteries that can be fully charged in five minutes and provide a range of up to 300 miles. StoreDot batteries achieve this fast-charging capability through a holistic approach that uses artificial intelligence and machine learning to combine its proprietary organic compounds with nanomaterials. In January 2021, StoreDot released a batch of its sample XFC battery cells, targeted to showcase the technology to potential EV and industry partners.