StoreDot, an Israeli extreme fast charging (XFC) battery developer, has signed a joint development agreement with VinES, a member company of Vingroup, to jointly research, develop, and offer XFC battery cells in different form-factors in readiness for the commercialization of XFC batteries.

As such, StoreDot will license and share its proprietary XFC technology, while VinES will be providing and contributing its expertise with multiple form-factor development, manufacturing, validation, and a global supply chain network.

The first generation of these XFC battery cells are set to be commercially available from 2025 and as such will be incorporated into VinFast EVs.

Analyst QuickTake: This collaboration follows VinFast, a member company of Vingroup, being the lead investor in StoreDot’s USD 80 million Series D funding round in January 2022 . Following this, in September 2022 , StoreDot began shipping EV cell samples of its “100in5” battery technology to strategic EV OEM partners, including VinFast, for real world testing. Furthermore, in January 2023 , StoreDot also partnered with Italvolt and licensed its XFC technology and intellectual property rights to manufacture XFC lithium-ion batteries at the latter’s plant in Italy.