BYD's Ultra-Fast EV Chargers Spark Competition with Tesla

BYD, China's leading EV manufacturer, has announced an ultra-fast EV charging system. Capable of fully charging an EV in five to eight minutes, these chargers aim to match the convenience of gas refueling. BYD's flash-chargers use advanced silicon carbide power chips, enhancing their market position against competitors like Tesla.

BYD, China's premier electric vehicle manufacturer, announced a groundbreaking ultra-fast EV charging system on Monday, claiming recharges nearly as swift as gas refueling. The new flash-chargers can charge BYD's latest electric vehicles within five to eight minutes. The company plans to erect over 4,000 such stations across China.

Slow charging times have historically hindered the transition from traditional vehicles to electric ones. However, Chinese consumers are increasingly switching, evident in a 40% increase in EV and hybrid sales last year. BYD's latest revelations impacted Tesla, causing a 4.8% decline in its share price.

BYD's new chargers rely on proprietary silicon carbide power chips with voltages of up to 1,500V. Boasting a production of 4.3 million new energy vehicles last year, the company is ahead of competitors like Tesla in some metrics. Despite these advances, BYD faces challenges, with some models ranked low in quality studies.

(With inputs from agencies.)