Electric Vehicles Today - StoreDot's XFC Technology Boost with Andretti Merger Announcement

In a significant development for the electric vehicle industry, StoreDot Ltd., a leader in Extreme Fast Charging (XFC) battery technology, and Andretti Acquisition Corp. II, a special purpose acquisition company, have announced a definitive agreement for a business combination. The combined entity aims to commercialize StoreDot's XFC technology, which can deliver 100 miles of charge in just five minutes, addressing the critical consumer concerns of range and charging anxiety. This merger is anticipated to capitalize on the rapidly expanding EV battery market by using an asset-light, scalable business model, which enhances compatibility with existing lithium-ion production lines. The new holding company, to be listed on Nasdaq as "XFC Battery," is poised to expedite the deployment of this transformative technology globally.

In other market news, Hyundai Motor (KOSE:A005380) was a notable mover up 11.1% and ending the day at ₩315,000. On Wednesday, DEEPX and the company unveiled a next-generation robot intelligence platform for autonomous operation without cloud connectivity. In the meantime, Bridgestone (TSE:5108) trailed, down 4.5% to end the day at ¥7,012.

Hyundai Motor's strategic focus on eco-friendly vehicles and premium branding supports margin recovery in a rapidly evolving automotive market. Discover more about Hyundai's positioning in the global landscape by clicking through to our full narrative.

Be sure to revisit our Market Insights article on rare earths, crucial to the EV sector's strategic growth, while stocks surge.

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• QuantumScape (NYSE:QS) settled at $12.97 up 4.5%.
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Sources:

• Simply Wall St
• "StoreDot Ltd. and Andretti Acquisition Corp. II Announce Signing of Definitive Agreement for Business Combination to Accelerate the EV Revolution with Extreme Fast Charging Battery Technology" from Andretti Acquisition Corp. II on GlobeNewswire (published 03 December 2025)

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