Shares of China's largest electric vehicle maker BYD soared Tuesday after the company announced new technology that can charge electric vehicles nearly as fast as it takes to fill up a gasoline car, CNBC reported.
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Stocks Rise
Hong Kong-listed BYD shares jumped more than 6% after the opening bell, hitting a new 52-week (year) high, and have risen more than 50% since the start of 2025.
New technology
This comes shortly after BYD unveiled its new Super e-Platform technology, which the company says is capable of delivering maximum charging speeds of up to 1,000 kilowatts.
Tesla's rival says it will allow cars using the technology to add 400 kilometres of range to their electric vehicles with just five minutes of charging.
The company added that it will build more than 4,000 ultra-fast charging stations across China.
BYD also said that the Super e-Platform technology will be available on the company's most popular models, the Han L sedan and Tang L SUV, which have already entered pre-sales in China with the new batteries.
What do competitors have?
It is noted that the latest Tesla superchargers provide charging power of up to 500 kilowatts and are capable of adding up to 270 kilometers of range in 15 minutes.
Meanwhile, Germany's Mercedes-Benz Group said last week that its electric CLA car will be able to replenish its 325-kilometer range in 10 minutes.
According to the Environmental Defense Fund, the average range of an electric vehicle in the U.S. is about 300 miles (483 km) on a single charge. However, the time it takes to charge an electric vehicle can vary from 20 minutes to several hours, depending on the model of the car and the capacity of the charging station.
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