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