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From: Julius Wong	1/20/2021 4:28:24 PM
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Electric vehicle shocker: StoreDot develops battery that can be charged in five minutes Jan. 20, 2021 9:07 AM ET Daimler AG (DDAIF) By: Clark Schultz, SA News Editor 268 Comments Israel-based battery technology company StoreDot says it developed the world's first car battery that can be fully charged in just five minutes, although the invention will take time to become a commercial option. "This represents a significant milestone for the company in its mission to eliminate the range and charging anxiety of electric vehicles, demonstrating the commercial viability of XFC batteries for the first time via a small form-factor battery cell." In 2017, StoreDot raised $60M from a group of investors that included Daimler ( OTCPK:DDAIF) and Samsung ( OTC:SSNLF). Other investors include BP Ventures (NYSE: BP), AltaIR Capital, Rhodium, TDK and Millhouse Capital. The breakthrough by StoreDot could be positive for companies like Tesla (NASDAQ: TSLA), Nio (NYSE: NIO), Li Auto (NASDAQ: LI), Cruise (NYSE: GM) and XPEng (NYSE: XPEV) down the road. StoreDot is a private company at the moment, but is sure to be taking notice of the huge level of investor interest in IPOs and SPACs.

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