BYD unveils ‘five-minute’ EV charging platform

BYD has unveiled one of the most innovative EV technologies to date—a platform capable of charging faster than it takes to fuel up a gas-powered vehicle at the station.    

The details: The Chinese electric automaker—which is aiming to dominate the global EV market (at some point)—has rolled out a 1,000-volt EV platform that is capable of fast charging 400km (249 miles) in five minutes.

• BYD’s new platform—called the “Super E-Platform”—has a charging speed of 1,000 kW, which is nearly triple the speed of the standard fast chargers in the U.S. (350 kW).

• The platform’s 1,000 volts exceeds the high-voltage power platforms of ultra-luxury EV models (800V), though most electric vehicles tend to fall under 350 kW. 

Between the lines: The Super E-Platform is the latest in a series of recent announcements by BYD highlighting how aggressively the Chinese automaker is working to strengthen its overall positioning in the EV market and overtake Tesla.  

• One of the core elements of BYD’s market strategy is its low vehicle pricing, with the automaker recently slashing prices on one of its models to under $10,000. 

• On March 27, BYD’s luxury sub-brand, Yangwang, will launch the U7 sedan, which is rumored to have over 1,300 horsepower and over 500 miles of range.

• Another component of BYD’s expansion strategy includes selling vehicles in markets that other electric vehicle manufacturers are ignoring. 

What we’re watching: After the news broke—BYD's Hong Kong-listed shares surged over 6% at market open, hitting a new 52-week high. The stock, last seen up around 4.2%, has already climbed more than 50% this year.

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