STOREDOT PREPARES FOR FURTHER GLOBAL EXPANSION WITH THE APPOINTMENT OF RENOWNED AUTOMOTIVE INDUSTRY LEADER AS CHAIRMAN

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Jan 04, 2023, 04:00 ET

Carl-Peter Forster has been appointed as StoreDot Chairman
Forster has wide-ranging, long-standing automotive industry expertise including senior posts at Geely, Volvo, Tata Motors, and BMW
New Chairman will offer strategic guidance as StoreDot expands its relationship with the global automotive industry
StoreDot remains on target for mass production of '100in5' cells by 2024 delivering at least 100 miles of range in just five minutes of charging

HERZLIYA, Israel, Jan. 4, 2023 /PRNewswire/ -- StoreDot, the pioneer of extreme fast charging battery technology for electric vehicles, has today announced the appointment of global automotive industry leader Carl-Peter Forster as Chairman. This key appointment, effective immediately, signals yet another step in StoreDot's global expansion and even closer ties with the global automotive industry, as it remains firmly on track for the mass production readiness of its game-changing '100in5' extreme fast charging cells by 2024.

Carl-Peter Forster is joining StoreDot after a stellar career in the automotive industry. He is currently a senior adviser and board member of several car companies. Past roles have included being a senior adviser to the Geely Group Chairman and a board member of Volvo Cars. He has also served as CEO of Tata Motors and General Motors' President of Europe. He spent the formative years of his career at BMW where he held many senior engineering roles and eventually rose to become a member of the Management Board for Manufacturing.

Dr Doron Myersdorf, StoreDot CEO said "We are delighted that someone with Carl-Peter Forster's experience is joining us at this exciting stage of StoreDot's expansion. He joins our global expert leadership team, and we are looking forward to benefitting from his impeccable automotive industry experience and insight as well as his invaluable strategic guidance as we move from R&D focus to manufacturing and execution.

"Boosting our automotive bench strength is extremely important as we are aiming to build on our OEM strategic partnerships and encourage even more automotive manufacturers to independently assess our '100in5' XFC cells and incorporate them into their electric vehicles."

Carl-Peter Forster, StoreDot Chairman said "It's an honor to be joining StoreDot, a company that I have admired for some time. I am a passionate advocate of EVs and recognize that charging anxiety is currently a major barrier to true mass adoption of these zero-emission technologies. Therefore, the work that Doron and his team are doing to put extreme fast charging batteries into mass production is vital for our industry. I am looking forward to working closely with them and harnessing my experience to help in taking this extraordinary technology to market."

StoreDot has previously revealed its '100inX' strategic technology roadmap. This featured 100in5, 100in3 and 100in2 of miles per minute of charging - three generations of StoreDot technologies of Silicon dominant XFC, semi solid state and post-Lithium architecture. The roadmap timings for these fast-charging solutions will be delivered over the coming decade with 100in5 by 2024, 100in3 by 2028 and 100in2 by 2032.

The company now has a growing network of strategic partnerships and investors, spanning the entire battery ecosystem. To date it has received investments from automotive manufacturers including Daimler, Ola Electric, Polestar, VinFast and Volvo. Additional EV OEMs are currently conducting real-world tests of XFC cell samples.

About StoreDot:

StoreDot is the pioneer and leader of extreme fast charging (XFC) electric vehicle batteries that overcome the critical barriers to mainstream EV adoption – range and charging anxiety. The company has revolutionized the conventional Li-ion battery by designing and synthesizing proprietary organic and inorganic compounds, optimized by Artificial Intelligence algorithms, making it possible to charge an EV in under ten minutes – the same experience as refuelling a conventional combustion engine car.

Through its '100inX' product roadmap, StoreDot's battery technology is delivering 'Range on Demand': 100 miles charged in 5 minutes in 2024, 100 miles charged in 3 minutes by 2028, and extreme energy density solution enabling 100 miles to be charged in 2 minutes by 2032. StoreDot's strategic investors and partners include Daimler, BP, VinFast, Volvo, Polestar, Ola Electric, Samsung, TDK, and its manufacturing partner EVE Energy. In 2022, the company achieved a world first by demonstrating a live extreme fast charging of an EV battery cell in 10 minutes. StoreDot is on target for mass production readiness of 100in5 technology by 2024.

Photo: https://mma.prnewswire.com/media/1976621/Carl_Peter_Forster__StoreDot_Chairman.jpg

SOURCE StoreDot