With the UK government ban on the sale of new petrol and diesel cars by 2030, in a bid to reach its 2050 net-zero targets, the sales of electric vehicles (EVs) must increase.
Covid massively impacted car sales in the UK. Figures from the Society of Motor Manufacturers and Traders (SMMT), published in January, say that 1.65 million new cars were registered in 2021, which is 1% up on 2020 but still -28.7% down on pre-Covid levels.
Sprint Power is leading on a £9.7m UK government-backed project, including the APC, BMW, BP, AMTE Power, Clas-SiC and Eltrium. Project Celeritas aims to develop ultra-fast charging cells and battery packs for BEVs and fuel-cell HEVs which will reduce charging times by almost 50%. The current best-in-class charging systems take 22 minutes for a 10-80% charge. Sprint Power says its platform will deliver this in 12 minutes.
AMTE Power plc (LON:AMTE) is a recognised brand in the production of high-quality lithium-ion batteries across a range of markets including automotive, aerospace, defence, oil & gas and energy storage.