Shares of BYD (Build Your Dreams) Co surged to an intra-day high following the introduction of a new lineup of electric vehicles (EVs) featuring ultra-fast charging technology, which the Chinese automaker claims will enable charging times comparable to that of refueling traditional cars.
On Tuesday, the automaker’s stock rose as much as 6% at the start of trading in Hong Kong, increasing its market capitalization to nearly $162 billion—surpassing the combined values of Ford Motor Co, General Motors Co, and Volkswagen AG.
Chairman and founder Wang Chuanfu announced on Monday that the new battery and charging system could deliver approximately 400 kilometers (249 miles) of range in just 5 minutes when tested on the Han L sedan. Vehicles equipped with this technology are set to go on sale next month.
The ability to charge an EV in the same time it takes to refuel a gasoline vehicle may attract drivers who are hesitant about making lengthy charging stops.
“BYD demonstrates signs of a strategic shift,” noted analysts from Macquarie Capital, including Eugene Hsiao, the head of China autos. “Instead of competing on price, vehicle design, or entering new product segments, BYD seems focused on leveraging its scale and core EV technologies to stand out in a competitive market.”
By addressing one of the main barriers to battery electric vehicle (BEV) adoption—charging speed—the company is providing consumers an easier transition from internal combustion engine (ICE) vehicles to EVs.
The new platform, which will support many of BYD’s future models, could further enhance the company’s position as it competes with Tesla Inc for the title of the world’s leading EV seller. Recently, Tesla’s shipments in China dropped by 49% in February compared to the previous year, hitting just 30,688 vehicles, the lowest monthly figure since July 2022.
BYD has committed to building over 4,000 charging stations throughout China to support the upgraded EVs, although it has not provided a specific timeline or cost for this rollout. Earlier this month, the company raised approximately $5.6 billion through a share sale.
The charging speeds of BYD’s new platform will significantly exceed that of Tesla’s Superchargers, which can provide up to 275 kilometers of range in 15 minutes. However, it is important to note that Tesla has a much larger network, with over 65,000 Superchargers globally. In comparison, the newly unveiled entry-level CLA electric sedan from Mercedes-Benz can achieve 325 kilometers of range in just 10 minutes of charging.
Wang stated that the new EV platform would enable cars to accelerate to 100 kilometers per hour in just 2 seconds. The first models featuring the ultra-fast charging capabilities will be the Han L and the Tang L sport utility vehicle (SUV), which will start at 270,000 yuan ($37,338) and 280,000 yuan, respectively, available from April.
The introduction of this technology is considered BYD’s effort to elevate the standards in the EV market, according to independent automotive analyst Lei Xing.
BYD has experienced a strong start to 2025, having sold over 318,000 passenger vehicles last month—a 161% increase from the previous year. The company holds the title of the largest car manufacturer in China, the world’s largest automotive market, with almost a 15% market share.
An advanced EV powertrain could further enhance demand for BYD’s next-generation vehicles, said Joanna Chen, a Bloomberg Intelligence analyst. “This may herald the beginning of a new wave of model releases, helping BYD’s battery-electric vehicle sales catch up to hybrids after trailing behind in 2024,” she observed.
Additionally, BYD is positioning itself as a leader in advanced driver-assistance technology, having recently announced that it will include features like lane-keeping and adaptive cruise control in some of its more affordable models.
BYD’s Super e-Platform may also present a competitive challenge to Contemporary Amperex Technology Co Ltd, which is currently the largest EV battery manufacturer in the world. For example, Li Auto Inc is utilizing one of CATL’s latest-generation batteries to provide charging that delivers 500 kilometers of range in 12 minutes.
