Recently, EVE and StoreDot jointly announced that the two parties recently signed a "Strategic Cooperation Framework Agreement" in Huizhou, Guangdong. This agreement aims to fully integrate the resources and technical advantages of both parties and accelerate the implementation of the large-scale production and safe "ultra-fast charging (XFC) battery" project.

It is reported that StoreDot will license ultra-high-speed rechargeable battery technology to EVE, and EVE will OEM and supply ultra-high-speed rechargeable batteries to StoreDot on a large scale. At the same time, StoreDot will continue to reach licensing agreements with other third parties to further build global production capacity.

Cooperation has a long history

Information shows that StoreDot was founded in 2012 and is an Israeli battery technology development company. It is a pioneer and global leader in extreme fast charging (XFC) battery technology for electric vehicles.

As a high-profile battery technology company, StoreDot has a very luxurious strategic investor base, including BP, Daimler, VinFast, Volvo Cars, Polestar, Ola Electric, Samsung, TDK, etc.

EVE is StoreDot’s manufacturing partner, and the two parties have a long history of cooperation. In 2018, the two parties established a cooperative relationship on the mass production of safe "ultra-high-speed rechargeable batteries"; then signed amendments to the framework agreement in 2019 and 2020 to extend the cooperation time; in 2021, the two parties signed the "Electric Vehicle Strategic Cooperation Framework" Agreement, the cooperation is planned to be implemented in three phases, and a joint venture will be established after small batch production is achieved in the second phase.

At present, the two parties have completed joint research and development and sample testing, and achieved small batch production. This time the two parties signed the "Strategic Cooperation Framework Agreement" again, which means that the cooperation between the two parties has entered the final sprint stage of commercial production.

So, what batteries will EVE produce for StoreDot?

In March 2022, StoreDot proposed the "100inX" product roadmap, planning to implement "Range on Demand?" in stages: launching the "100in5" battery in 2024, which can charge 100 miles in 5 minutes; launching "100in4" in 2026 The battery can charge 100 miles in 4 minutes; the "100in3" battery will be launched in 2028, which can charge 100 miles in 3 minutes.

In February this year, StoreDot announced that the "100in4" battery had achieved 1,100 cycles and was expected to have an energy density of 340Wh/kg, while once again reaffirming its expected mass production plan in 2024. According to the agreement reached this time, there is a high probability that the "100in5" battery can be mass-produced this year.

628Ah large energy storage battery is coming

On the same day when the new agreement with StoreDot was announced, Liu Shilei, senior manager of the solution center of Wuhan Yiwei Energy Storage Co., Ltd., said in an interview that the 628Ah energy storage large battery cell is in the B sample verification stage and has begun to send samples. The energy storage integrated system of the battery cell is in the A-type verification stage and will be mass-produced and delivered in Q4 this year.

The 628Ah large energy storage battery cell is another disruptive product for EVE’s energy storage business. On January 25 this year, EVE held an online press conference for the Mr flagship series of large energy storage batteries, clarifying product information and mass production time planning.

It is reported that "Mr. Big" and "Mr. Giant" are EVE's new generation energy storage Mr flagship series products. Among them, "Mr. Big" is a 628Ah ultra-large capacity energy storage cell that uses laminated 3.0 technology and can increase energy efficiency to 96% with 12,000 ultra-long cycles.

"Mr.Giant" is a 5MWh energy storage system that uses a 628Ah large battery solution for minimal integration. Compared with the 314Ah solution commonly used in the industry, it reduces the number of cells by 50%, connection points by 50%, and system accessories by 50%. , in this way, the amount of operation and maintenance monitoring can be reduced by 50% simultaneously, the accessories can be truly halved, and the operation and maintenance efficiency can be greatly improved.

According to the plan, "Mr. Big" and "Mr. Giant" will achieve global mass production in October and November this year respectively. This is also consistent with the time revealed by Liu Shilei. By then, the energy storage market will usher in a strong product. .

While accelerating product production, EVE's energy storage factory is also in full swing. In January this year, EVE launched two overseas energy storage factories. They plan to form a joint venture with Aksa in Turkey to engage in the production, marketing and sales of battery modules, outdoor cabinets, and containers, and to implement energy storage system projects as the general contractor in Turkey (locally); and plan to cooperate with INVEST KEDAH BHD established a joint venture, EVE Malaysia Energy Storage Company, and purchased a new second-phase land parcel to start the construction of an energy storage factory.

Entering 2024, EVE is still working together on both power and storage, continuously accelerating the pace of energy storage product updates and iterations. At the same time, large cylindrical batteries have also been officially put on the market.

More importantly, EVE's overseas layout continues to expand and improve, and its new cooperation with StoreDot will also become an important milestone in its overseas high-end technology industrialization layout. In 2024, EVE will be in full swing, which is worth looking forward to!