What’s Happening
StoreDot, a leader in the development of extreme fast charging (XFC) high energy batteries for electric vehicles, recently declared its global manufacturing strategy. The strategic move aims to establish the company’s presence across three continents, thereby facilitating optimal services for its worldwide automotive clientele.
Why It Matters
The manufacturing strategy of StoreDot is unique as it centers on localizing its supply chain in key regions including the US, Asia, and Europe. This approach is anticipated to allow StoreDot to cater to its Original Equipment Manufacturer (OEM) customers more efficiently by operating within their locales. The strategy also underscores StoreDot’s commitment to reducing carbon impact and promoting just-in-time production efficiency.
Key Points
StoreDot’s manufacturing plan involves collaborative production of batteries in local gigafactories, both existing and upcoming. Instead of constructing its own facilities, the company has decided to integrate with existing infrastructure, which is projected to kick-start production by next year.
The announcement from StoreDot’s CEO, Dr. Doron Myersdorf, emphasizes the significance of this strategic shift. He stated that the move marks a crucial milestone in StoreDot’s journey towards establishing a comprehensive supply chain and manufacturing footprint. This global outreach is expected to help StoreDot consistently deliver high-quality, extreme fast charging batteries conveniently, sustainably, and efficiently.
Earlier this year, StoreDot announced that its groundbreaking XFC batteries and systems were being tested by over 15 global automotive brand manufacturers, signaling a positive response from industry giants. Furthermore, it is speculated that additional potential manufacturing partnerships are in the pipeline for the current year.
Bottom Line
StoreDot’s global manufacturing strategy signifies a proactive step towards expanding its reach, solidifying its role in the industry, and increasing accessibility of its innovative solutions. The company boasts an expanding network of global partnerships and investors, including Daimler, VinFast, Volvo Cars, Polestar, and Ola Electric.
In 2022, the company unveiled its ‘100inX’ strategic technology roadmap, featuring its plan to deliver three generations of StoreDot technologies over the next decade. The roadmap projects the introduction of the 100in5 by 2024, 100in3 by 2028, and 100in2 by 2032, each representing miles per minute of charging. This demonstrates StoreDot’s dedication to innovation and its commitment to making electric vehicle charging faster and more efficient for OEMs globally.
