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StoreDot to Establish Joint Venture with JR Energy Solution for Mass Production of Ultra-Fast Charging Batteries

Feb 19, 2025over 1 year ago

Contract Type

partnership

Transportation

Description

StoreDot has announced a partnership with JR Energy Solution, a South Korean battery technology company, to mass produce ultra-fast charging batteries. The joint venture aims to start production this year and increase the production volume of batteries up to 10 GWh to meet the growing global demand. The partners also plan to produce batteries for drones and humanoid robots.

Company Information

Company

StoreDot

About

StoreDot is a pioneer and leader of extreme fast charging (XFC) batteries that overcome the critical barrier to mainstream EV adoption – range and charging anxiety. The company has revolutionized the conventional Li-ion battery by designing and synthesizing proprietary organic and inorganic compounds, making it possible to fully charge an EV in just five minutes – the same time it takes to refuel a conventional combustion engine vehicle. StoreDot's battery technology is optimized for best driver experience with XFC in Li-ion batteries, as well as future technologies for extreme energy-density (XED). StoreDot's strategic investors include VinFast, bp, Daimler, Samsung Ventures and TDK. In 2019, the company achieved a world first by demonstrating the live full charge of a two-wheeled EV in just five minutes. In 2020, the company demonstrated the scalability of its XFC batteries by fully charging a commercial drone in five minutes in another world first. Moving XFC battery technology from the lab to a commercially-viable electric vehicle for the first time, StoreDot has launched engineering samples of its XFC batteries that are designed to be manufactured at scale on traditional Li-ion production lines. For more information see: www.store-dot.com.

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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