- StoreDot predicts XFC technology will evolve from a premium
feature in high-end EVs to a mainstream requirement across all car
segments
- Demand for XFC will be driven by consumer expectations for
shorter charging times and improved charging experience, becoming
particularly appealing to EV car owners having limited access to
home or workplace charging
- XFC empowers OEMs to offer EVs with a smaller battery pack
enabling a lower and a more attractive price tag with a lighter
footprint
- OEMs now testing StoreDot's XFC might offer it as an upgrade to
EV models
- XFC will allow better utilization of high-power charging
stations (more KW charged per charging outlet) and thus improve
their ROI
- StoreDot's XFC technology gives drivers long driving range
while enabling ultra-fast charging, without compromising battery
performance, health and longevity
IRVINE,
Calif., July 24, 2024 /PRNewswire/
-- StoreDot, the pioneer and world leader in extreme fast
charging (XFC) silicon battery technology for electric vehicles
(EVs), forecasts that XFC technology is becoming a mainstream
feature required by all EV drivers, after initially entering the
market as a premium offering in high-end EVs.
StoreDot's vision aligns with growing consumer expectations for
shorter charging times and longer range, which will drive XFC to
become a necessary industry standard. As the EV market evolves, the
company sees XFC technology following the path of other innovative
automotive features, starting as a premium offering before becoming
ubiquitous.
The concept of extreme fast charging is already enhancing the
appeal and marketability of EVs with drivers expecting it in their
vehicles and opting for XFC-compatible models, giving premium
automotive brands a competitive edge. However, as more drivers
experience its convenience, it's expected to become a key factor in
purchasing decisions across all EV segments.
Other predictions about XFC made by StoreDot are that it will
make the EV option much more appealing to drivers that don't have
access to home or workplace charging and will allow OEMs to offer
EVs with smaller battery packs, empowering them to offer vehicles
with a more attractive price tag and a lighter weight. In addition,
fast charging infrastructure utilization and ROI is expected to
increase as EV adoption with XFC capabilities is widely
adopted.
Dr Doron Myersdorf, CEO of
StoreDot, said:
"XFC will become mainstream as it meets drivers' expectations
for shorter charging times and a longer range. But it doesn't stop
with the driver; it'll benefit the entire ecosystem. It will make
EVs more desirable, and some OEMs will offer it as a customizable
feature like an extended range premium option. This desirability is
crucial for OEMs, especially when facing EV demand fluctuations and
addressing consumer concerns about infrastructure and charging
times. Importantly, our XFC technology doesn't compromise battery
life or performance and as consumers realize this, XFC adoption
will accelerate. We continue to work closely with leading brands on
delivering fast adoption and a shorter time to market for our XFC
technology and are excited about it entering the mass market."
StoreDot's proven '100in5' XFC battery technology, using
silicon-dominant anodes, can maintain high energy densities
comparable to conventional lithium-ion batteries, while also
enabling ultra-fast charging rates and long cycle life.
As XFC technology matures, StoreDot is preparing to meet future
demand across the entire EV market. The company remains firmly on
track with production-readiness of its XFC cells that deliver 100
miles charged in 5 minutes this year. It aims to deliver 100 miles
charged in 4 minutes in 2026 and 100 miles charged in 3 minutes by
2028.
2024 has seen StoreDot continue its path towards
commercialization. Earlier this year it demonstrated that its XFC
battery technology could charge Polestar 5 prototype EV in just 10
minutes in a video released here.
About StoreDot
StoreDot is the pioneer and world leader of extreme fast
charging (XFC) electric vehicle batteries that overcome the
critical barriers to mainstream EV adoption – range and charging
anxiety. The company has revolutionized the conventional Li-ion
battery by innovating and synthesizing proprietary organic and
inorganic compounds, optimized by Artificial Intelligence
algorithms, enabling the charging of an EV in under 10 minutes –
the same experience as refueling a conventional combustion engine
car.
Through its '100inX' product roadmap, StoreDot's battery
technology is delivering 'Range on Demand™': 100 miles charged in 5
minutes in 2024, 100 miles charged in 4 minutes in 2026, and 100
miles charged in 3 minutes by 2028. StoreDot's strategic investors
and partners include BP, Daimler, VinFast, Volvo Cars, Polestar,
Ola Electric, Samsung, TDK, and its manufacturing partner EVE
Energy.
StoreDot's media kit can be found at this link.
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SOURCE StoreDot