Fastest EV Charger Ever Launched
Alex Reale
· 3 min read
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Electric vehicle
(EV) makers have something to celebrate with a new perk for drivers who choose to go electric: a superfast charger. Traditional EVs can take multiple hours to be recharged and ready for the road. A new option slashes charging times.As the EV market continues to expand, with infrastructure in many countries beginning to reflect this trend, this could be revolutionary for EV drivers everywhere.
ABB built the fastest electric car charger in the world
Automotive News
reported that the Swiss company ABB has built the fastest EV charger ever. It’s called the Terra 360, and it can charge any EV in a blistering 15 minutes. If that isn’t impressive enough, it can charge four EVs at the same time. If you’re in a high speed car chase, you can get a head start, plug in for 180 seconds, and enjoy 62 more miles.Europe will be the first to enjoy this speedy upgrade. Consumers in the U.S., Latin America, and Asia Pacific will have to wait until 2022 to charge their cars in the time it takes to sip a coffee and read the headlines.
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The demand for chargers is on the rise
MORE: New York Follows California in Banning New Gas Cars by 2035
According to findings from the
Pew Research Center
, EV sales have increased worldwide, with Europe currently leading the charge. Unpredictable gas prices are pushing many customers to consider less expensive fuel options, and eco-conscious drivers want to look beyond dependence on gas. With more EVs comes the need for more chargers, which is where companies like ABB seize their opportunity. ABB has only seen their business increase since they launched in 2010, as reported by Automotive News. They have sold more than 460,000 units, and only expect to see more growth as EV sales continue to increase.
EVs are a lucrative market
MORE: Tesla Wasn't Invited to White House EV Event
With countries around the world pushing policies to increase the EV options available, many companies are trying to get a headstart in the market. Building great EV chargers could mean cornering the market in places like
England
, where new legislation requires all new homes and offices to have them.ABB is perhaps best known for its more traditional assembly line car-making capabilities, but this latest achievement may help it establish a reputation for sustainability and innovation. An IPO for the EV charging arm of ABB is expected for early 2022, and with sales of $220 million in 2020, they seem to be on track to reach their goals.
For now, if you live in Europe and you need to get somewhere fast, set aside 15 minutes to charge up with the Terra 360. And if you’re looking for a new insurance company,
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