BYD, China’s leading electric vehicle manufacturer, announced a groundbreaking advancement in EV charging technology that could dramatically shift the industry. During a recent event, BYD CEO Wang Chuanfu introduced the company’s latest innovation, the “Super e-Platform,” a charging system capable of adding 249 miles (400 kilometers) of driving range in just five minutes—nearly matching the convenience of refueling traditional gasoline vehicles.
The new system, capable of delivering charging speeds up to 1,000 kilowatts (1 megawatt), effectively doubles the anticipated maximum 500kW charging rate of Tesla’s upcoming fourth-generation Superchargers. BYD’s technology leap could significantly reduce the longstanding issue of “range anxiety,” a primary hurdle for widespread EV adoption.
“In order to completely solve our users’ charging anxiety, we have pursued the goal of matching electric vehicle charging times with the refueling speed of petrol-powered cars,” Wang said at the launch event. BYD hopes this achievement will entice more drivers to transition from internal combustion engine vehicles to electric vehicles, accelerating the global shift towards sustainable transportation.
BYD also disclosed ambitious plans to bolster China’s EV charging infrastructure, committing to constructing 4,000 new ultra-fast charging stations across the country. These new chargers will initially support BYD’s latest models, the Han L sedan and Tang L SUV, priced starting around $37,000. However, the brand has not yet announced plans for U.S. availability.
Following the announcement, investor enthusiasm surged, lifting BYD’s stock price by over 6% in Hong Kong trading, reaching a new annual peak. The boost pushed BYD’s market valuation to approximately $162 billion, surpassing the combined market capitalization of automotive giants Ford, General Motors, and Volkswagen AG. While still trailing industry leader Tesla, valued above $700 billion, BYD’s recent strides signal its increasing competitiveness and potential global impact on the electric vehicle market.