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BYD soars after 5-minute charging platform unveiled
The company said the battery and charging system, called "Super e-Platform", boasted peak speeds of 1,000 kW, allowing cars to travel up to 470 kilometres (292 miles) after being plugged in for just five minutes.
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People visit the booth of Chinese automobile manufacturer BYD during the Indonesia
International Motor Show (IIMS) in Surabaya, East Java, on May 29, 2024. The government is
hoping to triple domestic electric car sales this year to 50,000 units, banking on newly rolled-
out incentives to boost the industry. Last year, 17,000 electric vehicles (EVs) were sold
wholesale nationwide, according to the Association of Indonesian Automotive Manufacturers
(Gaikindo). (AFP/Juni Kriswanto)
S
hares in Chinese EV giant BYD surged to a record high Tuesday after it unveiled new battery technology it says can charge a vehicle in the same time it takes to fill up a petrol car.
The company said the battery and charging system, called "Super e-Platform", boasted peak speeds of 1,000 kW, allowing cars to travel up to 470 kilometres (292 miles) after being plugged in for just five minutes.
The new technology aims to "fundamentally solve users' charging anxiety", according to BYD founder Wang Chuanfu.
"Our pursuit is to make the charging time of electric vehicles as short as the refuelling time of fuel vehicles," he said at Monday evening's launch.
Hong Kong-listed shares in BYD jumped more than six percent to hit a fresh peak at one point Tuesday morning before paring some of the gains.
The announcement positions BYD ahead of arch-rival Tesla, whose Superchargers currently offer charging speeds of 500 kW.
BYD introduced the Super e-Platform alongside two new EV models that will be the first to feature the system: the Han L sedan and the Tang L SUV.
