BP Invests $20M in Tech to Charge EVs in 5 Minutes

BP announced Tuesday it plans to invest $20 million in StoreDot, an Israeli startup that claims to offer 5-minute electric-vehicle charging with a new generation of lithium-ion batteries.

"Ultra-fast charging is at the heart of BP’s electrification strategy," said Tufan Erginbilgic, chief executive of BP downstream, in a statement. "StoreDot’s technology shows real potential for car batteries that can charge in the same time it takes to fill a gas tank."

Julia Pyper

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