The world’s largest oil refiner, Exxon Mobil, is helping to develop a revolutionary new battery technology, that could help light the way forward for all-electric vehicles. The oil company believes that it’s getting in on the ground floor of what could be the dominant transportation mode for the near future.

Exxon developed a type of film, initially to be used in cell phone batteries, that has been found to be extremely valuable for the type of lithium-ion batteries that could be used in new hybrids and EVs. The film is able to withstand temperatures of up to 374 degrees, and can help to prevent them from overheating and exploding, one of the main and scary drawbacks to li-ion technology.

A new electrically powered car called the Electrovaya Maya-300 will be one of the first to utilize the new battery technology. The car is said to have a range of about 120 miles, and could go on sale by the middle of the year.

Exxon has enough faith in the new technology that it is reported to have started on plans to build a $300 million plant in South Korea, as well as hire 14 new scientists to continue to improve the film.

+ Motor Authority: Exxon Mobil helping to develop electric cars

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