Mercedes Invests in Gamechanging Electric Car Technology

Mercedes has invested in a company that has developed a technology which could potentially revolutionize the electric car segment. A startup company called StoreDot has developed a new electric car battery technology which promises to deliver what was previously considered impossible – the company claims that its technology would make it possible to recharge a battery in just five minutes and deliver about 300 miles of range. This is billed as a game changer for the EV world.

Daimler, the parent company of Mercedes has backed the company to the tune of USD 60 million and is likely to employ it in the electric cars that Mercedes is going to manufacture in the future.

Daimler AG’s Truck division is also interested in the technology for its HGVs. One of the main barriers to the large scale adoption of electric cars is the long time it takes to recharge a vehicle. Range anxiety is another serious roadblock. Currently, it can take upto 10 hours for an electric vehicle to recharge. It is definitely not comparable to the 10 minutes or so it would take to pull into a petrol pump and refuel your petrol or diesel vehicle. There are some vehicles with fast charging technology but even so, it usually takes around 30 minutes to recharge the car to a useful level.

StoreDot claims its new technology would make it possible to fully recharge a vehicle in just five minutes while enabling a reasonable range of up to 300 miles on a single charge. This is a lot better than the electric cars on the road today, including the trend setting Model S

Mercedes had used the recent Frankfurt motor Show to unveil its EQA Concept car which is slated to go into production in 2019

Daimler AG’s Trucks wrote in a press release: “Complementing the investment, both partners have agreed to a strategic partnership that focuses on the field of fast battery charging.”

The company added that FlashBattery’s high efficiency in recuperation was particularly interesting in the case of commercial vehicles as it would lead to higher vehicle usage.

StoreDot said its core technology incorporates chemically synthesized organic molecules of non-biological origin. “These innovative molecules demonstrate uniquely tuneable optical and electrochemical properties, which allow for enhanced performance of energy storage devices.”

StoreDot did not reveal more details about the technology other than the range and the recharge time.

StoreDot has said that it would be using the technology for mass production by 2022 in its very own facility called ‘OneGiga’ located in Shenzhen, China. The plant will have a scalable capacity of one to 10 GWh per year.