ABB unveiled an electric-vehicle-charging station that it says provides the fastest capabilities on the market, fully charging any EV in 15 minutes.
The Zurich technology company's Terra 360 is a modular charging station that can simultaneously charge up to four vehicles at a time.
The charger has a maximum output of 360 kilowatts and can give an EV 100 kilometers, about 62 miles, of charge in less than three minutes, the company said.
Governments worldwide are "writing public policy that favors electric vehicles and charging networks to combat climate change," Frank Muehlon, president of ABB’s E-Mobility Division, said in a statement.
The "demand for EV charging infrastructure, especially charging stations that are fast, convenient and easy to operate, is higher than ever.”
Perhaps drivers' biggest concern about EVs is so-called range anxiety: whether they will have enough power to get their cars from point A to point B.
Another major concern is the time they spend at charging stations. The benchmark is the few minutes needed to fill a regular car's gas tank.
The charging stations will be available in Europe by year's end, with ABB expanding the Terra 360's footprint to the U.S., Latin America and Asia Pacific regions in 2022.
The company hopes to place the model at fueling stations, convenience stores and retail locations for average drivers. And it is also targeting commercial premises to charge fleets of electric cars, vans and trucks.
ABB says it has been in the e-mobility market since 2010 and since then has sold over 460,000 electric vehicle chargers in 88 markets.
Earlier this year, Reuters reported that ABB planned to list its e-mobility division on the stock market next year, a deal that could value the business at about $3 billion.