Store Dot claim that their technology can 'charge an EV or smart phone in 5 minutes' whilst Ultracharge claim their technology can 'dramatically increase the range of an EV in 10 - 15 minutes.'
Store Dot have just had Daimler (parent company of Mercedes) become a cornerstone investor and partner, whilst Ultracharge has only been able to land a partnership with a $200M market cap Swiss company.
Not trying to be negative, but factually, it appears we have a serious competitor a few steps ahead of us, unfortunately.
One final note: between Ultracharge, Store Dot and Dotz Nano all having a crack at creating fast-charging batteries, all using completely novel and different technology, it wouldn't surprise me if there was another process or technology advancement that Tesla are working on that achieves similar results (given they are the leading innovator in this space). If that were the case, then all three of the aforementioned companies are in trouble as Tesla's customer base isn't just commercial road cars, but also trucks (which Store Dot is working on) and buses (which Ultracharge is working on).
Ultracharge really need to make some progress, and quickly.
UTR Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
