Extreme fast charging, with a goal of 15 minutes recharge time, is poised to accelerate mass market adoption of electric vehicles, curb greenhouse gas emissions and, in turn, provide nations with greater energy security. However, the realization of such a goal requires research and development across multiple levels, with battery technology being a key technical barrier. The present-day high-energy lithium-ion batteries with graphite anodes and transition metal oxide cathodes in liquid electrolytes are unable to achieve the fast-charging goal without negatively affecting electrochemical performance and safety. Here we discuss the challenges and future research directions towards fast charging at the level of battery materials from mass transport, charge transfer and thermal management perspectives. Moreover, we highlight advanced characterization techniques to fundamentally understand the failure mechanisms of batteries during fast charging, which in turn would inform more rational battery designs.