Edmunds' Green Car Advisor reports:
The Nikkei Japanese subscription news service reports today that Yokohama-based JFE Engineering Corp. has developed a charging system that can recharge an electric car's batteries halfway in three minutes.
The system, which is scheduled to go on sale later this year, works about five times as fast as existing products and will cost 6 million yen ($63,380), or 40 percent less than existing products, to install.
More convenient charging is likely to help electric cars catch on. JFE Engineering sees potential demand from gas stations and convenience stores. The JFE Holdings Inc. unit aims for 15 billion yen ($158 million) in annual orders by fiscal 2015...
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