British Petroleum and electric vehicles

Why did British Petroleum decide to invest in a project to produce super-fast batteries for electric vehicles...
No matter how strange it may sound, it is a fact: the oil company British Petroleum Ventures is investing as much as $20 million in the production of ultra-high-speed batteries for electric vehicles StoreDot. The batteries were developed by Israeli startup StoreDot and are capable of charging much faster than usual. According to the company's specialists, an electric car with a range of 480 km can be fully charged in just 5 minutes, while the most advanced batteries in fast charging mode are now charged in at least half an hour and only 50-80%. According to StoreDot, they promise to make their electric vehicle batteries commercially available as early as 2022. According to StoreDot co-founder and CEO Doron Mayerdorf, the collaboration with the global energy leader will be an important milestone in strengthening the ultra-fast charging system for electric vehicles. “The combination of BP's impressive presence and StoreDot EV partnerships ecosystem allows for faster adoption of ultra-fast batteries and can significantly speed up the charging of electric vehicles,” he notes. The company intends to build a plant to produce ultra-fast batteries for electric vehicles in China. British Petroleum is convinced that ultra-fast batteries will accelerate the transition to electric vehicles. “StoreDot has shown significant progress in developing ultra-fast batteries for electric vehicles,” said David Gilmour, vice president of business development at BP Ventures. “We intend to work with them as an investor and strategic partner to move their technology from the laboratory to the vehicle.” . Oil tycoons are investing money in the development of electric vehicles - it seems like a paradox or a realization that it is no longer possible to stop the process of electrification of the world, but as they say: if you can’t defeat your enemy, make him your friend...
Author: GEximius