Ultrafast batteries would solve one of the biggest issues customers have with EVs — charging times. Lengthy charging times are holding back the EV revolution, but that might be about to change. China races aheadOne thing is almost certain: the first widespread ultrafast-charging EV batteries will likely be Chinese. McNulty estimates that China dominates 95% of the global market for graphite, a key mineral for EV batteries. Advertisement"The competition is so fierce; if you don't come up with faster charging batteries at cheaper prices, you're just not going to survive," Ries said.

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Persons: Ramesh Narasimhan, Zeekr, Rory McNulty, Tao, McNulty, Nyobolt, Narasimhan, Andy Palmer, Aston Martin, PATRICK T, FALLON, Cosimo Ries, Ries Organizations: Benchmark Mineral Intelligence, Getty, of Energy statistics, National Renewable Energy Laboratory, Nissan, EV, East, Trivium China Locations: China, Shanghai