ABB Launches Fastest Electric Car Charger That Charges The Battery To Full Within 15 Minutes

Charging visualization from ABB. (photo: ABB)

JAKARTA - Swiss engineering company ABB, Thursday, September 30, has launched the world's fastest electric car charger. The device could meet the growing demand for charging electric cars made by Tesla, Hyundai, and other automakers.

The company is launching its new Terra 360 modular charger and is forging ahead with plans to float its electric vehicle (EV) charging business, which could be worth around $3 billion.

According to ABB sources, this device can charge up to four vehicles at once. It can also fully charge any electric car within 15 minutes. This speed is especially attractive to customers who are concerned about charging times which can last up to several hours.

So far, one of the biggest obstacles for electric cars is the length of time in charging. This is very different from a conventional car which only takes a few minutes to fill up with gasoline or diesel to the brim.

"With governments around the world writing public policies supporting electric vehicles and charging networks to combat climate change, the demand for EV charging infrastructure, especially charging stations that are fast, convenient and easy to operate, is higher than ever," said Frank Muehlon, president of ABB's E-mobility Division.

According to the International Energy Agency (IEA), globally the number of registered electric vehicles increased 41% during 2020 to 3 million cars, despite the pandemic-related decline in the total number of new cars sold last year,

"The growth trend has accelerated in 2021, with electric car sales up 140% in the first three months of the year," said a source at the IEA.

ABB's Terra 360, which can deliver payloads with a range of 100 km in just under three minutes, will be available in Europe later this year. The United States, Latin America, and Asia Pacific regions will follow in 2022.

ABB declined to provide a price range for the product, which is aimed more at business clients such as gas stations, shops, and enterprises rather than a driver's private garage.

ABB Chief Executive Bjorn Rosengren said in July that investor material for the IPO of its electric vehicle charging business would be ready in the fourth quarter of this year, with potential flotation targeted as early as 2022.

It wants to retain a controlling stake in the business, which has sales of $220 million in 2020 - but is seeking a buoy to help acquire software and hardware companies and attract capital for rapid growth.