In a major step towards fast-charging EV batteries, an Israeli startup has developed an EV battery that can be fully charged through high-powered chargers within 5 minutes.
According to details, StoreDot, a Herzelya-based company, has developed 1,000 lithium-ion batteries that have been manufactured by Eve Energy in China.
While StoreDot is already known for its ‘extremely fast-charging’ batteries of phones, scooters, and drones, the Israeli company will now showcase its latest innovation to the world.
Many automotive and electronic companies including Daimler, BP, Samsung, and TDK have already invested heavily in the Israeli company, which has raised $130 million since its inception. StoreDot was also named New Energy Finance Pioneer by Bloomberg last year.
StoreDot’s CEO, Doron Myersdorf, has said the number one impediment to the adoption of electric vehicles is no longer cost, it is range anxiety.
You’re either afraid that you’re going to get stuck on the highway or you’re going to need to sit in a charging station for two hours. But if the experience of the driver is exactly like fuelling [a petrol car], this whole anxiety goes away.
Myersdorf noted that StoreDot has also decided to release the engineering samples of its five-minute charging lithium-ion EV batteries, adding that the decision is a testament to the feasibility and commercial readiness of the company’s product.
Besides, major companies worldwide including Tesla, Enevate, and Sila Nanotechnologies are also working on fast-charging batteries.
Chao-Yang Wang, Professor at the Battery and Energy Storage Technology Center at Pennsylvania State University, has estimated that such fast-charging batteries will be available to the mass market in three years.
Wang warned that the existing charging infrastructure will become obsolete in the next 10 years if it isn’t repurposed to support fast charging EV batteries.