Israeli fast-charging battery developer StoreDot is laying off dozens of employees, reducing its workforce to just a few dozen people, as it prepares for an $800 million SPAC merger. The layoffs, occurring in January 2026, are part of the company's restructuring ahead of its planned Nasdaq listing under the name XFC Battery. The remaining team is focused on maintaining existing projects and advancing the commercialization of its technology. StoreDot, founded in 2012, operates in the electric vehicle battery industry under a technology-licensing model and has raised approximately $200 million.
