StoreDot, an Israeli extreme fast charging (XFC) battery developer, entered into a strategic collaboration with Italvolt, the company building Italy’s first gigafactory. The former licensed its XFC technology and intellectual property rights to manufacture XFC lithium-ion batteries at the latter’s plant in Italy.

The partnership includes an offtake agreement where StoreDot will be able to purchase back the batteries for its use and its customers. 

Analyst QuickTake : Italvolt’s 300,000 square meter gigafactory is expected to begin operations in 2025 and will have a production capacity of up to 45 GWh per year, making it one of the largest gigafactories in the world. The factory will be able to produce pouch, prismatic and cylindrical next-generation lithium-ion cells which can be used in EVs, industrial machinery, and utility-scale storage.