StoreDot CEO Doron Myersdorf Unveils ‘100inX’ XFC Milestones and Strategic Moves in Exclusive Automotive Industries Interview

In the dynamic realm of electric vehicles (EVs), StoreDot stands out as a trailblazer, achieving groundbreaking milestones in battery technology. The recent announcement of the demonstration of the world’s first EV integrated with StoreDot’s Extreme Fast Charging (XFC) technology is a monumental achievement, propelling the company to the forefront of the EV industry. In this exclusive interview, Dr. Doron Myersdorf, StoreDot’s CEO, elaborates on the significance of this milestone, the strategic collaboration with Polestar, expansion in the United States, the ambitious ‘100inX’ product roadmap, and StoreDot’s plans to maintain leadership in commercialization of extreme fast charging battery technologies. Read on for a comprehensive insight into StoreDot’s achievements, collaborations, and vision, solidifying its pioneering role in revolutionizing electric vehicle technology.

Myersdorf begins by emphasizing the revolutionary nature of fitting an EV with StoreDot’s XFC technology. The ‘100in5’ technology, promising to charge 100 miles in just 5 minutes, addresses a critical consumer pain point – long charging times. Myersdorf underscores that this achievement positions StoreDot as a leader committed to practical implementation, bringing the industry one step closer to mass-market acceptance of electric vehicles. The collaboration with Polestar, known for its innovation and sustainability commitments, plays a pivotal role in showcasing the real-world capabilities of StoreDot’s XFC battery cell technology.

The interview then explores StoreDot’s strategic move to expand operations in the United States and open a research hub in Irvine, CA. Myersdorf explains that this move is aimed at accelerating the development of future-generation semi-solid and solid-state batteries, leveraging the rich innovation and skills ecosystem in the U.S. The CEO highlights the strategic location’s proximity to U.S.-based OEMs, emphasizing the importance of collaborating with leading experts and institutions in battery technology.

The ‘100inX’ product roadmap, which sets ambitious goals for XFC cells, is a focal point of the discussion. Myersdorf expresses confidence in achieving these targets, emphasizing StoreDot’s extensive expertise in transitioning from lab to production lines. He provides insights into successful testing with multiple OEMs, demonstrating the technology’s real-world viability and its readiness for commercialization.

As StoreDot aims to scale up its global manufacturing footprint, Myersdorf outlines the company’s collaboration strategy. While specific partnerships remain confidential, he reveals ongoing collaboration with leading global battery manufacturers and the aggressive expansion of manufacturing capabilities across key regions. The CEO emphasizes the importance of deep collaborations with automakers such as Volvo, Polestar, VinFast, and others to co-develop XFC technology tailored to specific vehicle platforms.

In conclusion, Myersdorf discusses StoreDot’s differentiation strategy in the competitive market. He highlights the well-defined ‘100inX’ product roadmap, the holistic approach to battery development, easy transferability to standard production lines, and successful testing by numerous OEMs as key factors that solidify StoreDot’s position as a leader in the Extreme Fast Charging category. The interview, which follows below, provides a comprehensive insight into StoreDot’s achievements, collaborations, and strategic vision, reaffirming its pioneering role in revolutionizing electric vehicle technology.

Automotive industries: The announcement mentions StoreDot’s major milestones for 2024, including a demonstration of the world’s first EV fitted with XFC technology. Could you share more details about the significance of this achievement and how it positions StoreDot in the EV industry?

Myersdorf: The milestone of fitting the world’s first EV with StoreDot’s extreme fast charging (XFC) technology is a groundbreaking achievement for both StoreDot and the entire EV industry. While several companies attempt to address a major pain point for consumers – long charging times, this will be the world’s first implementation in an EV. The ‘100in5’ technology, which allows users to charge 100 miles in just 5 minutes, can be integrated into cell manufacturing facilities available today and integrated in current EV battery packs. The demo will showcase a solution that will enhance the appeal of electric vehicles and pave the way for shorter charging times across the EV market. By integrating XFC technology into an EV, StoreDot is showcasing its commitment to practical implementation and proving the viability of extreme fast charging on a real-world scale, bringing us one step closer to mass-market acceptance of electric vehicles.

Automotive industries: The collaboration with Polestar is highlighted for showcasing the first EV with XFC battery cell technology. Can you elaborate on the nature of this collaboration and how it contributes to the advancement of extreme fast charging technology?

Myersdorf: The collaboration with Polestar is a crucial aspect of our journey towards commercialization of extreme fast charging technology, which will pave the way for the entire EV ecosystem. Polestar, known for its commitment to cutting-edge innovation and sustainability, is an ideal partner to demonstrate the real-world capabilities of StoreDot’s XFC battery cell technology. This collaboration involves integrating StoreDot’s technology into Polestar’s vehicle architecture using a Polestar 5 prototype vehicle. Through an advanced engineering project, both companies work closely on improving the integration process, addressing challenges, and fine-tuning the technology for practical application. This collaboration contributes significantly to the advancement of extreme fast charging, paving the way for future partnerships and industry-wide adoption.

Automotive industries: With the expansion of operations in the US and the opening of a research hub in Irvine, CA, how does StoreDot plan to leverage this strategic move to further its goals in developing future semi-solid and solid-state batteries?

Myersdorf: Expanding our operations in the US and establishing a research hub in Irvine, CA, is a strategic move aimed at accelerating our efforts in developing our future-generation battery technologies. The United States is a hub of innovation and a key market for electric vehicles, making it an ideal location to deepen our research and development activities. This strategic move allows StoreDot to operate close to US-based OEMs and support their needs. The research hub in Irvine will serve as a center for collaboration with leading experts and institutions in battery technology. This strategic move enhances our ability to attract top talent, foster partnerships, and leverage the rich ecosystem of innovation in the US.

Automotive industries: ‘100inX’ product roadmap outlines ambitious goals for XFC cells, such as 100in5 technology, enabling 100 miles charged in 5 minutes, to be production-ready in 2024. How confident is StoreDot about achieving these targets and what kind of impact does it foresee on the electric vehicle market?

Myersdorf: Our 100in5 battery cells, developed in our in-house, full-scale pilot production line, were originally designed for implementation on standard Li-ion manufacturing lines. Over the years, our collaboration with EVE Energy, our manufacturing partner, has been instrumental in mastering the transition from lab to production lines. We have accumulated significant expertise in various aspects, including cell design, chemical and process parameters, formation procedures optimization, pack integration and thermal modeling, chemistry optimization, process stabilization, manufacturing and scale-up, and equipment selection and qualification. This wealth of knowledge positions StoreDot as a valuable partner for OEMs and battery producers, offering crucial insights across the entire production spectrum. Additionally, B samples have already been successfully supplied to and tested by multiple OEMs, demonstrating the technology’s real-world viability and achieving the final product design specifications. StoreDot’s mature and highly manufacturable technology paves a safe way for commercialization.

Automotive industries: StoreDot aims to enhance partnerships with automotive manufacturers and manufacturing partners to scale up its global manufacturing footprint. Can you provide insights into the specific collaborations or strategies in place to achieve this goal and support global car makers?

Myersdorf: While specific collaborations remain confidential and cannot be disclosed, StoreDot is actively pursuing collaboration with leading global battery manufacturers, leveraging their expertise and production capabilities to bring StoreDot’s extreme fast charging technology to a global scale. Leveraging our established partnership with EVE Energy in China, we are aggressively expanding our manufacturing footprint across key regions like Europe, USA, and Korea. This robust global network, coupled with deep collaborations with automakers such as Volvo, Polestar, VinFast, and others, empowers StoreDot to co-develop XFC technology tailored to specific vehicle platforms. This approach ensures seamless integration, accelerates market adoption, and positions our partner automakers at the forefront of the race for extreme fast charging dominance. In addition, we work closely with various OEMs to integrate our fast-charging capability into the battery cell format that suits their strategy and production platforms. We recently announced our first prismatic cells, which are becoming increasingly dominant among global car makers -again this is another major step towards the mass commercialization of our XFC cells, .

Automotive industries: As StoreDot moves towards commercialization, how does the company plan to differentiate itself in the market and maintain its position as the world leader in delivering extreme fast charging battery technologies, especially considering the presence of other key players in the industry?

Myersdorf: StoreDot is recognized by leading industry analysts as the first and only company offering a proven XFC battery solution. StoreDot’s strategic approach has positioned it as a notable player in the Extreme Fast Charging category, establishing a significant gap ahead of competitors. This is reflected in a well-defined ‘100inX’ product roadmap, focused on delivering a seamless experience for drivers, similar to traditional refueling. Our holistic approach to battery development considers all related system elements, ensuring a stable commercialization. Furthermore, our technology is easily transferable to standard production lines, requiring no additional CAPEX. The ecosystem-wide collaborative approach further strengthens our position in the industry. Notably, our battery cells have already undergone successful testing by more than a dozen OEMs, confirming impressive performance and validating the maturity and stability of the technology.