StoreDot, a leading battery cell developer, has announced its first close of Series D funding of up to USD80 million. The funding round was led by VinFast, a Vietnamese electric vehicle manufacturer part of the VinGroup, it was joined by bp Ventures and Golden Energy in the funding round. Other key investors include Daimler, Samsung Ventures and TKD. StoreDot plans to utilise the secured capital to advance the research and development of its silicon-dominant extreme fast charging (XFC) battery cells, which VinFast intends to deploy in its future EV models, as well as the development of its extreme energy density (XED) solid-state battery cell technology. The battery cell developer plans for mass production of its XFC and XED cells to commence in 2024 and 2028 respectively and is currently delivering sample cells to automotive manufacturers for testing under real-world conditions.
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