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BP supports new technology for near-instant car battery charging by investing $20 mln

BP has made $20 mln investments in Israeli start-up StoreDot. The project’ product is said to be capable of charging electric cars in just 5 minutes.

Photo: Nick Ansell | PA Images | Getty Images

Superfast charging is at the core of the oil company’s electrification strategy, said Tufan Erginbilgic of BP yesterday. The start-up’ technology looks promising for car batteries, being able to charge as quick as filling a gas tank, he also said. 

In September 2017 Daimler invested $60 mln in StoreDot, which says the technology is ecologically-friendly and fully charged batteries let a car ride for over 300 miles.

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