New lithium-ion technology is capable of extremely fast-charging.

Alliance Ventures, the venture capital arm of Renault-Nissan-Mitsubishi, has invested in Enevate, an advanced lithium-ion (Li-ion) battery technology company based in California. 

Enevate’s innovative Li-ion technology could enable electric vehicles to charge in as little as five minutes, which is roughly as long as it takes to refuel a conventional car. 

“This strategic investment allows us to support the development of Enevate proprietary cutting edge electrode technology,” said Francois Dossa, Alliance Global Vice President, Ventures and Open Innovation. “Continued development in this critical field will help us accelerate the electrification of our vehicles.”