StoreDot of Israel using Lithium-Ion samples produced by Eve Energy Co. Ltd. of China have developed an eV battery that can charge in just 5 minutes. However it may be several years before the plug in infrastructure exists to charge so quickly. Such a battery would overcome the concerns regarding limited range and long charging times of current eV batteries.
A demo has been shown on a two wheeled scooter and the company is planning for a 2025 mass rollout assuming it can find a suitable strategic partner. The CEO Doron Myersdorf says now fast charging has been proven possible, the challenge is providing the charging infrastructure.
StoreDot was chosen by BloombergNEF as one of the top 10 companies of 2020 leading the low carbon transition. Current investors includes bp Plc ($ 20M invested in 2018). In 2017 $ 60M was raised from various companies including Daimler AG.
David Gilmour previously VP Business Development at bp said “StoreDot has shown significant progress in the development of ultra-fast charging, both in mobile phone and vehicle applications. BP looks forward to working alongside them, as an investor and strategic partner, to bring their technology from the lab to the vehicle.”