An electric-car battery that can be charged in five minutes, the amount of time it takes to fill up a tank of gas, has been produced for the first time in a factory in China.

The new lithium-ion batteries were developed by the Israeli company StoreDot and manufactured by Eve Energy in China. The company has produced 1,000 sample batteries compliant with li-ion battery certifications, StoreDot said Tuesday.

The samples will be used to showcase the company's technology to prospective buyers and investors looking to get a jump on the electric-vehicle market, including BP, Daimler, Samsung Ventures, and TDK.

This represents a significant milestone in eliminating the range and charging anxiety of electric vehicles (EVs), demonstrating the commercial viability of extreme fast-charging (XFC) batteries for the first time via a small form-factor battery cell.

While lithium-ion batteries use graphite as an electrode, the StoreDot battery works faster by replacing graphite with semiconductor nanoparticles that allow ions to pass more easily and quickly. The company expects to replace this electrode with silicon, a much cheaper component, by the end of the year.

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