Chinese electric vehicle (EV) manufacturer BYD says its new fast chargers can charge EVs in as little as five to eight minutes, according to CBS News.
Related article: BYD snatches crown from Tesla as world’s top EV maker
The company’s new 1MW flash chargers can have EV users charged and back on the road in almost the same time it takes to fill a petrol tank.
BYD says it has plans to build 4,000 new charging stations across China.
“To completely solve users’ anxiety over charging, our pursuit is to make the charging time for EVs as short as the refuelling time for fuel vehicles,” BYD founder Wang Chuanfu said.
BYD shares skyrocketed to a record high with the news, raising the company’s market value to almost $162 billion. Tesla—plagued by negative sentiment surrounding Elon Musk’s allegiance with United States President Donald Trump—saw its shares drop 4.8%.
Related article: BYD inks world’s largest grid-scale battery contracts
In 2024, BYD produced 1,777,965 EVs compared with Tesla’s 1,773,443 vehicles that same year.
