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BP invests in maker of electric car battery that charges in 5 minutes

Staff Writer |
BP announced it has invested $20 million in Israel's StoreDot, a "ultra-fast charging battery developer".

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ccording to the UK oil major, StoreDot's innovative battery technology can charge electric vehicles in five minutes. StoreDot aims to commercialize its flash battery for mobile communication devices as early as 2019.

"Ultra-fast charging is at the heart of BP's electrification strategy. StoreDot's technology shows real potential for car batteries that can charge in the same time it takes to fill a gas tank.

"With our growing portfolio of charging infrastructure and technologies, we're excited by our opportunities to develop truly innovative EV customer offers.

"We are committed to be the fuel provider of choice - no matter what car our customers drive," said Tufan Erginbilgic, chief executive for Downstream at BP.

BP said it believes that ultra-fast charging will be key in accelerating the adoption of EVs worldwide.

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