China’s leading EV maker, BYD, has introduced a new ultrafast charging system that can fully charge an electric vehicle in just 5 to 8 minutes almost as quick as refueling a gas-powered car.
On Monday, BYD announced plans to install over 4,000 of these high-speed charging stations across China, marking a major advancement in EV infrastructure.
Faster Charging, Faster EV Adoption
For many drivers, long charging times and limited battery range have been major obstacles to switching from gas to electric vehicles. However, the shift to EVs is happening quickly in China. Last year alone, sales of battery-powered and hybrid cars surged by 40%.
BYD’s breakthrough put pressure on competitors, as Tesla’s stock price dropped by 4.8% on the same day. Meanwhile, BYD started presales for its Han L and Tang L models, which are upgraded versions of its previous EVs.
From Battery Maker to Auto Giant
BYD started as a battery manufacturer and has spent years improving its energy storage and EV battery technology. The company’s 1-megawatt flash chargers can now add up to 400 kilometers (nearly 250 miles) of range in just five minutes.
“Our goal is to make EV charging as fast as refueling a gas car, completely eliminating range anxiety,” said BYD’s founder, Wang Chuanfu.
These flash chargers use silicon carbide power chips with voltage levels of up to 1,500V, a technology developed in-house. BYD’s Blade lithium-ion phosphate battery is considered one of the safest and most efficient EV batteries, even adopted by Tesla for some of its models.
BYD’s Rapid Growth
Last year, BYD produced 4.3 million “new energy vehicles”, a 41% increase compared to the year before. This included 1.8 million battery-electric vehicles and 2.5 million plug-in hybrids. The company’s stock in Shenzhen’s market has surged nearly 50% in six months.
BYD also edged ahead of Tesla in EV production in 2024, manufacturing 1,777,965 battery-powered vehicles, just slightly more than Tesla’s 1,773,443.
Affordable & Premium EV Options
While BYD’s latest premium EVs are expected to sell for around $40,000, the company also offers budget-friendly models. The BYD Seagull, for example, is one of the most affordable EVs in the world, selling for just $12,000 in China.
Challenges Ahead
Despite its success, BYD still faces challenges. According to JD Power’s 2024 China New Energy Vehicle Initial Quality Study, the BYD Seal and BYD Song Plus ranked at the bottom of its quality ratings.
Meanwhile, Tesla’s global sales declined for the first time in over a decade as competition from BYD, BMW, and Volkswagen intensified.
The Future of EVs
BYD’s innovations in fast charging, battery technology, and affordability are reshaping the EV industry. With rapid advancements and aggressive expansion, it’s clear that the future of electric mobility is arriving much faster than expected.