Chinese EV maker BYD says its new platform has charging speeds of 1,000kW, twice the power of Tesla’s superchargers.
The Shenzhen-headquartered firm has unveiled a new charging and battery system that makes it as quick to charge an EV as it does to refill an internal combustion engine car with petrol.
The announcement of the ‘Super e-Platform’ was made during a live-streamed event on Monday at BYD’s headquarters. Wang Chuanfu, BYD’s founder, chairman and CEO, said the platform offers peak charging power of 1,000kW, enough to give a vehicle 400km of driving range in just five minutes.
He said that the goal of the platform was to eliminate charging anxiety among EV users, making the transition from internal combustion engine vehicles to EVs more appealing.
The BYD technology also marks the first time that EV charging power has reached 1MW, which, he said, makes its technology twice as fast as Tesla’s superchargers, which operate at up to 500kW and take 15 minutes to add 275km of range.
The technology will be available in two BYD EV models initially: the Han L sedan and the Tang L SUV priced from 270,000 yuan (£28,800).
Chuanfu also revealed that BYD would build a charging network across China. This includes more than 4,000 ultra-fast charging stations; however, no date was provided as to when this network would be up and running.
As a result of the announcement, shares of BYD surged on Tuesday. According to the South China Morning Post, BYD’s shares in Hong Kong jumped more than 6% to HK$408 shortly after the market opened on Tuesday and closed up 4.1% at HK$401.40. The stock has gained 55% this year.
In contrast, BYD’s rival Tesla, whose largest market after the US is China, saw its stock fall 4.8%, its eighth consecutive weekly decline. According to The Guardian, Tesla’s stock plunged 15% on 10 March alone.
Earlier in March, BYD announced it has partnered with UK leasing company Arval to help BYD get a foothold in the UK market through accessible pricing.
In August 2024, Uber signed a deal with BYD to bring 100,000 new EVs into its ridesharing service, starting with Europe and Latin America.