January 20, 2023: Italvolt, the Italian gigafactory developer, announced it had entered into ‘a strategic collaboration’ with StoreDot, a lithium ion battery developer, on January 16.
Italvolt will license StoreDot’s extreme fast charging technology (XFC) and IPR to manufacture XFC lithium ion batteries at its plant, which is to start production in 2024 in Turin, Italy.
The agreement between the two companies will allow Italvolt to scale and upgrade its battery cell production.
It also enables StoreDot to buy Italvolt’s batteries for its own business, once production is complete.
StoreDot’s ‘100inX’ product roadmap has an ambition to develop advanced battery cells capable of 100 miles of drive range in five minutes’ charge by 2024, reducing to three minutes by 2028 and two minutes by 2032.
Lars Carlstrom (pictured), founder and CEO of Italvolt, said: “Our collaboration with StoreDot is an inflection point in our journey to deliver high-quality, lithium ion battery cells, at scale.”
Doron Myersdorf, CEO of StoreDot, said: “This agreement lets us obtain captive capacity so we can guarantee supply of cells to our future OEM customers. It is extremely important that StoreDot creates these strong relationships as we rapidly move towards mass production.”