An Israeli firm has announced the first superfast EV battery that can charge in just five minutes. The technology could spark a true EV revolution as it would eliminate one of buyers' biggest concerns—range anxiety.
StoreDot noted in a press release that this was the first time extreme fast charging (XFC) batteries were demonstrated as commercially viable for the first time.
"The first-generation engineering samples demonstrate to EV OEMs and battery manufacturers the successful replacement of graphite in the cell's anode using metalloid nano-particles – a key breakthrough in overcoming major issues in safety, battery cycle life and swelling," the company said.
Range anxiety is one of the reasons why EVs have not yet become the preferred mode of personal transportation across the world despite generous government incentives. Safety concerns are another, and most of these concerns are focused on batteries, which have been known to spontaneously combust on occasion.
In other words, batteries are the focus of much attention in the EV area, and a breakthrough of the sort StoreDot has just announced is what many have been waiting for, as it would level the playing field with ICE cars in charging times.
However, it's worth noting it will take a while before the world's first successful XFC battery reaches the hoods of actual EVs. StoreDot eyes commercial launch in 2025 if it can find the right partners, CEO Doron Myersdorf told Bloomberg in an interview.
Myersdorf noted that the current EV-charging infrastructure is a problem because it was not made with five-minute charging times in mind. Another problem is battery degradation as a result of the extremely fast charging. If these obstacles are overcome, however, it's a bright future for EVs.
"We're on the cusp of achieving a revolution in the EV charging experience that will remove the critical barrier to mass adoption of EVs," Myersdorf said.
By Charles Kennedy for Oilprice.com
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Dr Mamdouh G Salameh
International Oil Economist
Visiting Professor of Energy Economics at ESCP Europe Business School, London