Automotive

Mercedes’ Parent Company Invests In Game-Changer EV Battery

mercedes benz

Mercedes Benz’ parent company, Daimler, is all too aware that electric vehicles are the future (especially with China’s latest announcement in mind). But the infrastructure is not progressing at the speed required so Daimler decided to give it a nudge. The carmaker is leading an investment in battery technology that could be a game-changer for the industry #automagic

See, if traditional cars fuel up in a couple of minutes, an electric car spends even half an hour to charge enough to keep it going for a fair amount of time (and here, we’re thinking about Tesla cars, which are lucky enough to count on a Supercharger station).

Who wants to spend half an hour or more to charge their car? No one! Drivers don’t have that kind of time to waste and Mercedes Benz’ parent company knows that. So, it has recently announced that it has been in talks with StoreDot to develop new, better battery technology. In fact, they are leading a $60 million investment in the Israeli startup. Among the contributors, you’ll find Samsung Ventures and Norma Investments.

Why the vote of confidence? They might hold the key to a quick, hassle-free recharging. It seems that StoreDot is working on battery that could recharge vehicles in just five minutes. The project is called FlashBattery and it uses ”¬†organic compounds combined with nanomaterials” to cut the charging time.

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