Chinese car manufacturer BYD has introduced a new system for electric vehicles that will allow them to charge almost as quickly as a conventional car. This is reported by Bloomberg.
BYD Chairman and Founder Wang Chuanfu says that BYD's new battery and charging system can provide a range of 470 kilometers in 5 minutes, which has been tested on the new Han L sedan.
The ability to charge an electric vehicle in the time it takes a car with an internal combustion engine to charge at a gas station could convince drivers who are not ready to make long stops to switch to electric vehicles.
The new system, which will form the basis of many future electric vehicles, could be another boost for BYD, which has already overtaken Tesla to become the world's largest seller of electric vehicles.
The speeds will be significantly faster than Tesla's Superchargers, which can add up to 275 kilometers of range in 15 minutes. However, Tesla has a much larger network with more than 65,000 Supercharger stations worldwide.
According to analysts, the Chinese company is off to a great start in 2025. BYD sold more than 318,000 passenger cars last month, up 161% from a year earlier.
It is also now the leading car manufacturer in China. BYD shares, listed on the Hong Kong Stock Exchange, have risen about 45 percent this year and are expected to rise further.
The improved electric vehicle powertrain could further boost demand for BYD’s next-generation cars, said Joanna Chen, a Chinese auto analyst.
“This could mark the beginning of a new wave of model launches, allowing BYD’s battery electric vehicle sales to overtake hybrids,“ she said.