Toshiba's new SCiB battery charges in 5 minutes, releases March 2008 for electric vehicles

Toshiba is entering the electric vehicle battery market next March with the release of the Super Charge ion Battery, or SCiB. According to the company press release, the battery charges 90 percent full in 5 minutes, can last 10 years and loses less than 10 percent efficiency after 3,000 recharges. The only applications mentioned in the press release are electric bikes, electric motorcycles, construction machinery, and fork lifts with future plans for providing batteries for hybrids and full electric cars. Toshiba vice president Toshiharu Watanabe says;
The excellent performance of the SCiB will assure its successful application in industrial systems and in the electronic vehicles markets as a new energy solution.

Toshiba's hopes to have 10 percent market share or a global sales target of 100 billion yen (895 million dollars) by 2016. Toshiba's general manager overseeing the project, Shoshi Kawatsu, won't comment on if they are in talks with automakers but he did say this;

Toshiba will ride with the trend set by automobile companies. When hybrids and electric cars become prevalent, the SCiB will probably be applied to them.

Watch out Ener1, A123 and all the other small EV battery companies, the big boys smell profits in the EV battery market water.

[Source: Toshiba via Engadget]