BANGKOK (AP) — BYD, China’s top maker of electric vehicles (EVs), has unveiled a new ultra-fast charging system. This technology can fully charge its latest EVs in just five to eight minutes, similar to how quickly drivers can fill up a gas tank. The company plans to install over 4,000 of these chargers across China.
Charging times have worried many potential EV buyers. However, in China, the shift to battery-powered and hybrid vehicles is gaining momentum, with sales rising by 40% last year. BYD’s announcement also affected Tesla’s stock, hitting it with a nearly 5% drop.
Started as a battery manufacturer, BYD has evolved into a major auto player by advancing its battery technology. Its new 1-megawatt flash chargers can deliver enough power for nearly 250 miles of driving in just five minutes. Founder Wang Chuanfu emphasized that reducing charging time is key to alleviating driver anxiety about EVs.
The company’s charging system features advanced silicon carbide chips that operate at 1,500 volts, enhancing charging efficiency. BYD’s Blade lithium-iron phosphate battery is recognized as one of the safest in the industry, and even Tesla uses it in some of its cars, according to industry expert Michael Dunne.
In 2023, BYD produced over 4.3 million new energy vehicles, a 41% increase from the previous year. This includes around 1.8 million battery-only cars and 2.5 million plug-in hybrids. Over the past six months, BYD’s shares have soared nearly 50%.
BYD offers a range of vehicles, from high-end models priced around $40,000 to more affordable options like the Seagull, which starts at approximately $12,000. In 2024, BYD narrowly outpaced Tesla in battery electric vehicle production—1,777,965 vehicles compared to Tesla’s 1,773,443. Despite its success, Tesla reported a drop in sales for the first time in 12 years, facing competition from brands like BMW and Volkswagen.
However, BYD does face challenges. A recent JD Power study highlighted that the BYD Seal and Song Plus received low marks for quality. According to Dunne, this could affect customer satisfaction and the company’s reputation.
As the EV market evolves, charging technology plays a crucial role in shaping consumer choices. As BYD continues to innovate, it will be interesting to see how it impacts the overall landscape of electric vehicles. For more details on the electric vehicle market and trends, check reports from trusted sources like the International Energy Agency.
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Source linkTesla, Inc., Electric vehicles, Transportation technology, China, General news, Michael Dunne, Technology, Bayerische Motoren Werke AG, World news, Seal, Business, Volkswagen AG, Wang Chuanfu, Climate and environment, World News, Climate
