Volvo Cars has recently entered into a multi-year strategic collaboration agreement with StoreDot, a leading innovator in extreme fast charging (XFC) EV batteries. This partnership is poised to usher in a new era of efficient and rapid charging capabilities for Volvo's upcoming electric vehicle lineup.
Under this agreement, joint teams from Volvo Cars and StoreDot will pool their expertise to develop XFC battery cells that will be meticulously tailored to fit seamlessly into Volvo's future EV architectures. The first tangible results of this collaboration are anticipated to materialize in the form of prototype cells slated for testing purposes in 2024.
Javier Varela, Chief Operating Officer and Deputy CEO of Volvo, expressed his enthusiasm about this pioneering collaboration, stating, “Volvo Cars is already a strategic investor in StoreDot, but this newly agreed collaboration takes our relationship a step further. We are delighted to be working together to develop advanced sample cells for our future EVs. There is a lot of work to be done, but the opportunities to develop exciting new charging technologies together are huge. We can't wait to see the fruits of our work being tested in the real world.”
StoreDot has garnered strategic investments from several prominent entities, including Polestar, Daimler, Samsung, VinFast, and TDK. VinFast, for instance, has previously announced its intention to adopt the first generation of StoreDot's XFC battery cells as soon as they become commercially available in 2025, further underlining the industry's collective push toward rapid EV charging solutions.
In a demonstration of its commitment to innovation, StoreDot unveiled plans earlier this year to establish a research facility in Irvine, California – its inaugural presence in the United States. This state-of-the-art lab facility is expected to expedite StoreDot's development efforts in semi-solid battery technology and battery material research.
StoreDot's existing research facility is located in Herzliya, Israel, while it also maintains manufacturing facilities in China and Korea. The company has set ambitious goals, with its “100in5” cells slated to enable at least 100 miles of range with just five minutes of charging by 2025. This breakthrough technology promises to revolutionize the EV charging experience, making it more convenient and accessible for consumers worldwide.
As the automotive industry continues its electrification journey, partnerships like the one between Volvo Cars and StoreDot exemplify the collaborative efforts underway to reshape the future of mobility. With rapid-charging technology on the horizon, the prospect of electric vehicles becoming even more practical and widespread is now a tangible reality.