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(Pocket-lint) - Battery developments are appearing thick and fast these days as everyone scrambles to create the perfect system. The latest is a battery that will live for 2 years and when charging can get to 70 per cent capacity with just 2 minutes plugged in.

The fast charging battery, created by scientists at Nanyang Technology University, will have a lifetime 10 times longer than current batteries. Your mobile's lithium-ion battery right now probably has a life of about 500 charges which equates to about two or three years. This has 10,000.

The new battery replaces the graphite in the anode of a lithium-ion battery with a gel and there are also titanium dioxide nanotubes. The result is super-fast charging and far less degradation over charges as well as using a material that's abundant and commonly used already as a food additive.

The technology is currently being licenced by an unnamed company for production. While we'd love to see this in our phones soon the lead professor refers to electric cars when talking about the battery. "Electric cars will be able to increase their range dramatically, with just five minutes of charging, which is on par with the time needed to pump petrol for current cars,” said Professsor Chen. The longer battery life makes sense for those buying an electric car.

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The 10,000-cycle battery should cut down battery replacement in cars and equate to a 15-minute charge for the entire car.

Here's hoping we see this technology in the self-driving Tesla promised to arrive next year.

READ: Tesla self-driving car will be ready by next year, says Elon Musk

Writing by Luke Edwards.