BYD launches new EV platform supporting charging up to 1 000 kW

Shares in Chinese electric giant BYD surged to a record high on 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.

No more range anxiety

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 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.

ALSO READ: What next from BYD? Three more products coming to South Africa

Shares in BYD jumped more than six percent at one point Tuesday morning before paring some of the gains.

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

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.

Charger roll-out

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

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

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.

ALSO READ: All-electric BYD Seal 7 ready to make a splash in South Africa