British oil giant BP invests $20M in Israeli startup StoreDot
British energy company BP has announced that it is investing an amount of $20 million in Israeli startup StoreDot which is known in the battery world for its ‘ultra-fast charging battery.’
The announcement implies that StoreDot, which is already getting support from some big automobile companies, has secured another significant investment. In 2017, StoreDot had secured a substantial $60 million funding round led by prominent automaker Daimler.
The backing which StoreDot is getting from renowned companies is noteworthy, especially in the wake of the fact that it is difficult to ascertain the credibility of new battery technologies without hard data.
In announcing BP’s $20 million investment in StoreDot, David Gilmour -- BP Ventures’ Vice President of Business Development -- highlighted StoreDot’s “significant progress” in developing ultra-fast charging technology for mobile phones and vehicle applications. Gilmour said that BP will be a StoreDot investor and strategic partner, and will help the Israeli startup bring its technology “from the lab to the vehicle.”
Gilmour also stated that the technology to support electric vehicles (EVs) is showing a rapid advancement in recent times, and added: “BP Ventures is committed to identifying and investing in companies that we believe are at the cutting edge of this industry.”
A team of engineers at University of Colorado Boulder’s Department of Electrical, Computer and Energy Engineering are working to develop new technology which will enable electric cars of the future to recharge wirelessly on the road.
The new Nissan Leaf electric vehicle (EV) is apparently on its way to set an all-time sales record in Norway this month!
According to a noteworthy assertion by Japanese automaker Nissan, the company’s next-generation Nissan Leaf is the ‘fastest selling’ electric vehicle (EV) in Europe.
Tesla Motors is already promoting its Semi electric truck to corporate clients.
In a recent press release, renowned German automaker Volkswagen (VW) has announced the unveiling of a new electric powertrain for its I.D.
Chinese electric vehicle (EV) manufacturer Kandi has recently marked its official foray into the US market, with the launch of two new EVs --- the EX3 all-electric SUV, and the K22 subcompact electric car.