BANGKOK (AP) — China’s energy and auto giant BYD has unveiled an ultra-fast EV charging system that it claims is nearly as quick as refueling at a gas station.
On Monday, BYD, China’s largest EV maker, announced that its new flash chargers can fully charge its latest EVs in five to eight minutes—comparable to the time needed to fill a fuel tank. The company plans to build more than 4,000 of these new charging stations across China.
Charging times and limited ranges have been key obstacles preventing a broader shift from gas and diesel vehicles to EVs. However, Chinese drivers have embraced the transition, with battery-powered and hybrid vehicle sales surging 40% last year.
BYD’s announcement appeared to rattle Tesla on Monday, as the U.S. EV maker’s share price dropped 4.8%. Meanwhile, BYD began pre-sales of its Han L and Tang L models, upgraded versions of earlier releases.
Originally a battery manufacturer, BYD has been enhancing its battery and energy storage technology while expanding its auto empire beyond China. The company says its 1-megawatt flash chargers can provide enough power for 400 kilometers (nearly 250 miles) in just five minutes.
