• StoreDot, an Israeli next-generation battery startup, has revealed the world’s first extreme fast charging (XFC) 4680 cylindrical cell prototype that has the ability to fully charge in 10 minutes. 

• The prototype has been under development for nearly three years in collaboration with the University of Warwick and British Petroleum (BP)—StoreDot’s strategic partner.  

• The XFC battery technology is multi-patented covering the areas of cell design and StoreDot’s proprietary lab technology. This breakthrough technology will be utilized by global automotive manufacturers in both pouch and cylindrical forms. StoreDot is also ramping up production lines at EVE Energy, StoreDot’s manufacturing partner, with the expectation to commercialize by 2024. 

• Additionally, StoreDot expects to offer extreme energy-density (XED) technology to the mass market by 2028.

<ul><li> Analyst QuickTake: The charging efficiency of the new prototype seems to be slightly lower than what StoreDot had previously promised. StoreDot’s initial expectation was to develop an electric vehicle (EV) battery that can be fully charged in five minutes (instead of ten). It is unclear at this point whether the prototype design is final, although it falls in line with the previously communicated commercialization plan of showcasing the technology to potential EV and industry partners by 2021 with expectations to mass-produce by 2024.</ul>