The problem with electric cars is that they require recharging. You might argue that our regular cars also need to be refueled, but the main difference is that the time it takes to refuel a car is significantly less compared to if you were to charge an electric car. Of course charging times have been cut down quite a bit over the years, but it isn’t necessarily quite as fast yet.

However this is something that Daimler wants to change as the company has managed to raise $60 million in an investment that will help further super-fast EV charging technology. The investment will be going towards an Israeli startup by the name of StoreDot, who has been working on technology that has the potential to fully charge an EV in as little as five minutes.

For those unfamiliar, StoreDot is a company that has been exploring fast-charging technology not just in cars, but also smartphones. Earlier this year, the company unveiled its FlashBattery that they are hoping will replace the lithium-ion batteries in cars in the future. Not only does this battery support super-fast charging, but it is also said to be able to provide a range of about 300 miles.

StoreDot is clearly not the only one working on faster charging tech. Tesla also has its own Supercharger that can fully charge one of its cars in about 2 hours, but if StoreDot can bring that down to 5 minutes, we reckon Tesla’s got their work cut out for them.

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