A BYD Plus DM-i electric vehicle is seen on display at a showroom in the Jing’an district of Shanghai on March 11, 2025.
Hector Retamal | Afp | Getty Images
Shares of China’s BYD rallied on Tuesday after the company announced a new technology that it claims can charge electric vehicles (EV) almost as quickly as it takes to fill a gasoline car.
BYD’s Hong Kong-listed shares jumped more than 6% shortly after the open, notching a new a 52-week high. The stock, which was last seen trading around 3% higher, is up over 44% year-to-date.
BYD’s Shenzen-listed stock price, meanwhile, rose 2% on Tuesday morning.
It comes shortly after BYD unveiled a new “Super e-Platform” technology, which it says will be capable of peak charging speeds of 1,000 kilowatts. The EV giant and Tesla rival says this will allow cars that use the technology to achieve 400 kilometers (roughly 249 miles) of range with just 5 minutes of charging.
CNBC could not independently verify these claims.
“The ultimate solution is to make charging as quick as refueling a gasoline car,” Wang Chuanfu, chairman and president of BYD, said at the launch event, according to a press release.
The breakthrough appears to cut to the core of range anxiety, one of the major sticking points preventing consumers from switching to an EV. Range anxiety refers to fears that an electric car battery will run out of charge before the passenger reaches the destination.
Xing Lei, an independent China autos analyst, described the technological advancements of BYD’s new battery platform as “out of this word” and a “heartbreaking” development for its foreign competitors.
“Just when everybody’s focus seems to be turning toward smartification, BYD comes right back and says: no no, we are not done with electrification yet,” Lei said in a LinkedIn post.
BYD said its Han L sedan and Tang L SUV will both feature the new “Super e-Platform,” with both EVs having officially started pre-sales in China. The company added it would build more than 4,000 ultra-fast charging piles, or units, across China to match the new platform.
BYD has not yet specified how much it will spend on building the new facilities, nor when the ultra-fast charging piles will be available for consumers.
The average range for EVs in the U.S. is nearly 300 miles (or 483 kilometers) on a single charge, according to the Environmental Defense Fund, while the time it takes to charge a battery-powered EV can take 20 minutes or several hours, depending on the car and the speed of the charging point.