Shares jump after BYD announces full car charging in 5 minutes

Electric Vehicle Charging

A Revolution in Electric Vehicle Charging... 400 km in Just 5 Minutes!

Shares of Chinese carmaker BYD jumped after announcing its new "Super e-Platform" technology, which it claims can charge electric vehicles at a speed comparable to that of conventional cars. This technology allows electric vehicles to travel 400 kilometers in just 5 minutes of charging, representing a quantum leap in the world of electric vehicles.

Chairman and founder Wang Chuanfu stated on Monday that the new battery and charging system was able to provide a range of up to 470 kilometers (292 miles) with a 5-minute charge during tests conducted on BYD's new Han L sedan. To ensure the success of this technology across China, BYD plans to install more than 4,000 ultra-fast charging stations, although it has not announced a timeline or financing details for the project, according to Reuters.

In contrast, Tesla's latest Superchargers offer a charging capacity of up to 500 kilowatts, adding 270 kilometers of range in 15 minutes. Meanwhile, German automaker Mercedes-Benz announced last week that its all-electric CLA will be able to charge 325 kilometers in 10 minutes.