Store Dot, an Israeli unicorn company with ultra-fast charging battery technology, will choose South Korea as a global battery production base and make large-scale investments

Store Dot, an Israeli unicorn company with ultra-fast charging battery technology, will choose South Korea as a global battery production base and make large-scale investments

Store Dot, an Israeli unicorn company with ultra-fast charging battery technology, will choose South Korea as a global battery production base and make large-scale investments. Amid the deepening U.S.-China trade conflict, South Korea is drawing attention as a bridgehead for post-China and global business expansion.

Store Dot announced on the 18th that it will work with JR Energy Solution, a South Korean battery technology company, to establish a joint venture (JV) to mass-produce ultra-fast charging batteries. It will cooperate in the form of creating batteries with JR Energy Solution’s production technology by applying Store Dot’s ultra-fast charging technology know-how. It is similar to the consignment production method (foundry) commonly used in the semiconductor industry.

The two companies plan to produce 1.5GWh batteries annually this year, and will gradually increase production to 4GWh in 2027. In addition, it will mass-produce ultra-fast charging batteries for drones and humanoid robots as well as electric vehicle batteries. It also planned to expand production to up to 10GWh in case global demand expands explosively. 10GWh is a capacity that can be mounted on about 130,000 high-performance electric vehicles. To build a 10GWh production plant based on a typical lithium-ion battery, at least KRW 1 trillion must be invested.

StoreDot CEO Doron Myersdorf, said:

We plan to build Korea as a global super-fast charging battery production hub,

“It is a strategic investment decision to accelerate the commercialization of super-fast charging batteries in various industries such as electric vehicles, drones, robots, and defense and defense industries. He will participate as a major speaker at the ‘Interbattery 2025’ event in Korea on the 5th of next month and unveil the overall investment strategy in Korea along with the announcement of the joint venture investment”

Store Dot has previously established a mass production system by partnering with EVE Energy, China’s fourth-largest battery company. However, as the U.S.-China trade conflict intensified, the volume was diverted to domestic demand in China, making Korea a base for entering the global market.

Founded in 2012 by a researcher at Tel Aviv University in Israel, StoreDot is the world’s first company specializing in XFC (Extreme Fast Charge) that introduces “100 in 5” technology that can travel 100 miles (about 160 kilometers) on a five-minute charge. It has a battery technology that can charge more than 2,400 times at a charging speed four to five times faster than existing lithium-ion batteries. Volvo’s electric vehicle brand Polestar 5, which is scheduled to be released in 2025, will be equipped with a Store Dot battery that charges 80% in 10 minutes. Global automakers such as Mercedes-Benz, Daimler and Volvo participated as major investors, and in Korea, Samsung Ventures was recognized for its technological competitiveness enough to invest. It is a unicorn company that is currently valued at $2 billion in corporate value alone and is preparing to list on Nasdaq in the future.

StoreDot is especially attracting attention in the drone and humanoid robot markets. After the war in Ukraine and Russia, interest in fast charging technologies has increased as drone operations for military purposes have increased rapidly and drone demand has soared across industrial areas such as unmanned delivery. In addition, the industrial and home humanoid robot market is exploding with the development of artificial intelligence (AI) technology, and the importance of charging speed is increasing as the power consumption of robots incorporating AI technology increases significantly.

An official from StoreDot emphasized,

We will gradually increase production of ultra-high-speed batteries for drones and robots in line with market demand, focusing on electric vehicle batteries that incorporate ultra-high-speed charging technology.

JR Energy Solution, which Store Dot selected as a domestic production partner this time, is expanding into a “battery foundry” business with battery cell manufacturing capabilities based on its expertise in battery electrode processes. Since its establishment in 2022, it has received 60 billion won in investment until July last year, and is participating as the third largest shareholder in Korea & Company. JR Energy Solution, which built a 500MWh plant (79,000㎡) in Eumseong-gun, Chungcheongbuk-do, plans to increase its production capacity to 1.5GWh this year and expand its production facilities by 2027.

A battery industry official said,

The fact that global technology companies chose Korea as a global production hub proves that domestic battery technology is competitive,

“It is expected to revitalize the domestic battery ecosystem, which has been sluggish so far.”

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Store Dot, an Israeli unicorn company with ultra-fast charging battery technology, will choose South Korea as a global battery production base and make large-scale investments, source