Chinese Battery Maker EVE Signs Manufacture Agreement With Israel-Based Startup Storedot
Storedot develops fast-charging batteries for mobile phones, tablets, laptops, and electric vehicles
Shenzhen-listed lithium batteries manufacturer EVE Energy Co. Ltd. has signed an agreement with Israel-based battery startup StoreDot Ltd. to manufacture the latter’s products for electric vehicles and mobile devices in China, Storedot announced Tuesday. The financial terms of the deal were not disclosed.
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Founded in 2012, and based in Herzliya, a Tel Aviv suburb, Storedot develops fast-charging batteries for mobile phones, tablets, and laptops, as well as for electric vehicles.
StoreDot CEO Doron Myersdorf. Photo: PR
StoreDot has 85 employees and has raised $126 million to date, according to the company. Backers include Tokyo-headquartered TDK Corporation, German carmaker Daimler AG, and British oil company BP PLC.
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“China has beaten the west when it comes to battery manufacture and pretty soon the western markets will hit a wall due to high demand and scarce means of production,” StoreDot CEO Doron Myersdorf said in a phone interview with Calcalist Tuesday.
