|ALC carbon outcome||Furthering research and technology to advance low carbon|
|Geographic scope||Middle East - Israel|
N/a - research and technology
According to BP's latest Energy Outlook report there could be some 350 million electric vehicles (EV) on the road by 2040. The development of convenient and innovative EV charging technologies and networks to support this growth in EVs is a key part of BP's strategy to advance the energy transition. As part of this we are investing $20 million in an ultra-fast- charging battery start-up company called StoreDot. As well as our investment, we are sharing our knowledge of charging infrastructure and our relationships with car manufacturers and universities. StoreDot will also have access to our service stations to demonstrate its technology.
StoreDot has successfully developed new battery technology that allows ultra-fast charging in mobile phones and other consumer electronics. It is now using that technology to create a new type of EV FlashBattery that could see EV charging times fall to five minutes – equivalent to the average amount of time it takes to fuel a gasoline powered car.
Using StoreDot technology, an EV is expected to be able to travel up to 300 miles (480 kilometres) at full charge, depending on the vehicle model. By shortening the amount of time drivers must wait to charge their cars, StoreDot technology can also reduce the number of charging posts required at any given charging station.