After a rather slow trading week, which can be attributed to the holidays, ETLY.OB shares jumped over 9% on 51,379 traded shares. In recent news the Company acquired Minit-Charger. The new subsidiary makes chargers for rechargeable lithium-ion and lead-acid batteries that can be used in electric light construction vehicles such as forklifts.
The CEO of ECOtality, Jonathan Read, stated in an interview, “It’s the charging system, very complex, that allows batteries to be charged to maximum charge on minimum time. It has a complex electrical system that adjusts once every 300 times per minute for variances.”
This rapid charging technology could be applied to cars in the future as electricity becomes the preferred medium of fuel for vehicles. One drawback to using electric powered cars is that they typically have shorter ranges, in reply the CEO stated that drivers could simply plug in and recharge at places like grocery stores while shopping or office buildings while they work.
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