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Home / Business

China EV giant BYD soars after 5-minute charging platform unveiled

AFP
19 Mar, 2025 08:29 PM4 mins to read

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Photo / Getty Images

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Shares in the Warren Buffett-backed Chinese EV giant BYD surged to a record high Tuesday after it unveiled new battery technology it says can charge a vehicle in the same time it takes to fill up a petrol car.

The company said the battery and charging system, called “Super e-Platform”, boasted peak speeds of 1,000 kW, allowing cars to travel up to 470 kilometres (292 miles) after being plugged in for just five minutes.

The new technology aims to “fundamentally solve users’ charging anxiety”, according to BYD founder Wang Chuanfu.

“Our pursuit is to make the charging time of electric vehicles as short as the refuelling time of fuel vehicles,” he said at Monday evening’s launch.

Hong Kong-listed shares in BYD jumped more than 6% to hit a fresh peak at one point Tuesday morning before paring some of the gains.

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The announcement positions BYD ahead of arch-rival Tesla, whose Superchargers currently offer charging speeds of 500kW.

BYD introduced the Super e-Platform alongside two new EV models that will be the first to feature the system: the Han L sedan and the Tang L SUV.

@bloombergopinion

This chart is the biggest EV story in 2025. Tesla BYD cartok

♬ original sound - Bloomberg Opinion

The Shenzhen-based company also unveiled plans to build more than 4,000 ultra-fast charging stations nationwide to support the new technology.

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The ambitious expansion comes on the heels of remarkable growth, with February sales soaring 161% to more than 318,000 electric vehicles.

Meanwhile, Tesla experienced a steep 49% sales decline in the Chinese market during the same period.

Chinese premium EV brand Zeekr unveils autonomous driving system

Meanwhile, Chinese luxury electric vehicle brand Zeekr on Tuesday unveiled a new SUV with autonomous driving technology, as domestic automakers race to put hands-free cars on the road.

The Zeekr 9X comes fitted with L3-ready capabilities, which allow drivers to take their hands off the wheel but require them to stay ready to intervene.

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“We will make advanced intelligent driving a must-have for users in the era of intelligence”, Chen Qi, a vice president at Zeekr, said at an event in Hangzhou.

Geely-owned Zeekr will debut the new SUV at the Shanghai Auto Show next month, with deliveries slated for the second half of this year.

The Zeekr 9X will be equipped with a new G-Pilot system, which uses artificial intelligence to avoid obstacles and locate empty parking spots, the company said.

The announcement comes after Tesla last month said it had started offering advanced self-driving functions for its cars in China.

The functions described, including autopilot on city streets, are similar to those the company offers in the United States -- which are meant to be used under driver supervision.

Chinese automaker BYD, a top rival for domestic EV brands, also recently announced that it would introduce advanced self-driving technology for nearly all its cars.

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Nio’s battery swap deal

Separately, on Tuesday, Chinese EV maker Nio said it had signed a deal with battery giant CATL involving cooperation on a passenger car battery swap network.

Battery swapping offers an alternative to ultra-fast charging for vehicle owners worried about range, though the vast infrastructure required and standardisation issues present major hurdles.

The new cooperation will see CATL invest a maximum of 2.5 billion yuan (US$346m) in Nio’s battery swap network.

The Chinese electric vehicle market has witnessed explosive growth in recent years, but it has also seen fierce competition among domestic car manufacturers.

Chinese EV maker XPeng on Tuesday said it is expecting deliveries to surge more than 300% year-on-year in the first quarter of 2025, to a projected 91,000 to 93,000 vehicles.

That would be on par with the 91,000 deliveries the automaker saw in the final three months of 2024, according to quarterly and full-year financial results published online.

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XPeng’s total revenue last year was up 33% compared to 2023, reaching $5.6 billion.

-Agence France-Presse

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