Soon You Will be Able to Charge Your Car in Under 10 Minutes, Storedot COO Says

Israel-based battery startup StoreDot Ltd. is working on a car battery that will take less than ten minutes to charge, Erez Lorber, StoreDot’s chief operating officer said at Calcalist’s WeTechBerlin conference on Tuesday.

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Founded in 2012, and based in the Tel Aviv suburb of Herzliya, Storedot develops fast-charging batteries for mobile phones, tablets, and laptops, as well as for electric vehicles.

The company has raised $158 million to date, according to Pitchbook data. The company’s investors include Samsung and German carmaker Daimler AG.

Storedot announced in November that it signed an agreement with Shenzhen-listed lithium batteries manufacturer EVE Energy Co. Ltd. to manufacture its products for electric vehicles and mobile devices in China.

StoreDot is developing a battery for electric cars that will take between “five-ten minutes” to fully charge, he added.

“Most of the world’s population can not charge slowly, they do not have a garage and must rely on public charging infrastructure,” Lorber explained.

In two years, the company expects to have its full operating prototype of such a battery, Lorber said.