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BP Invests in Tech to Charge Cars as Quickly as Filling Gas Tank



BP Plc agreed to invest $20 million in a developer of ultra-fast charging for batteries, a technology the oil major believes is key for accelerating the adoption of electric vehicles.

The lithium ion technology developed by StoreDot has the potential to recharge a car battery as quickly as refilling a gas tank, according to a joint statement released on Tuesday. The Israel-based firm’s “flash batteries” will be deployed in mobile devices as early as next year and BP’s investment will help bring them to vehicles.

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