China’s automotive and energy giant, BYD, has introduced a groundbreaking ultra-fast EV charging system, claiming it can recharge electric vehicles (EVs) nearly as quickly as filling a gas tank.
On Monday, BYD, the country’s largest EV manufacturer, announced that its new flash-chargers can fully recharge its latest electric vehicles in just five to eight minutes, matching the time it typically takes to refuel a traditional car. The company plans to install more than 4,000 of these new charging stations across China.
Charging time and limited range have been significant barriers to the widespread adoption of electric vehicles, though China has seen rapid growth in EV sales. Last year, the sales of battery-powered and hybrid vehicles increased by 40%.
BYD’s announcement also had an impact on Tesla’s stock, with shares of the American EV manufacturer dropping by 4.8%. BYD, which stands for "Build Your Dreams," also began pre-sales of its upgraded Han L and Tang L models.
Starting out as a battery maker, BYD has now expanded into both energy storage and electric vehicle production. The company claims its 1 megawatt flash chargers can deliver enough power for 400 kilometers (around 250 miles) of driving in just five minutes.
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To achieve such fast charging speeds, the system requires ultra-high voltage and large currents, explained BYD founder Wang Chuanfu. He added, "Our goal is to make charging times for EVs as fast as refueling for traditional vehicles."
BYD’s new charging system uses silicon carbide power chips that operate at up to 1,500 volts, a technology developed in-house. Its Blade lithium-ion phosphate battery is considered one of the safest and most efficient in the industry, with even Tesla using it in some of its vehicles, according to industry analyst Michael Dunne.
In 2024, BYD produced over 4.3 million "new energy vehicles," marking a 41% increase from the previous year. This figure includes 1.8 million battery electric vehicles and 2.5 million plug-in hybrids. The company’s stock in Shenzhen has surged nearly 50% in the past six months.
BYD’s premium models are expected to cost up to $40,000, though it also offers more affordable EVs, such as the Seagull, priced around $12,000 in China.
In 2024, BYD narrowly outpaced Tesla in the production of battery-powered EVs, manufacturing 1,777,965 units compared to Tesla’s 1,773,443.
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However, BYD faces challenges as well. According to JD Power’s 2024 China New Energy Vehicle Initial Quality Study, the company’s Seal and Song Plus electric models ranked at the bottom of the quality rankings.
Source: With input from news agency