BYD shares have records when Tech is charged twice as quickly as Tesla is charged

The shares of the Chinese electric vehicle manufacturer BYD reached a record high on Tuesday, after they had quickly introduced technologies that would enable its cars to run up to 400 kilometers with a load of only five.

The company described its new fast loading platform – which is twice as fast as Tesla – as filling a fuel tank on the pump.

The “Super-E platform” is initially available in two new EVs.

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The platform will be able to do a top speed of 1,000 kilowatts (KW), said the BYD founder Wang Chuanfu at an event that was carried out live from the company's Shenzhen headquarters on Monday.

“This is the first time in the industry that the unity of megawatts (fee) was reached due to loading power,” said Wang.

The announcement caused the BYD share to achieve an all-time high price of 384.57 yuan per share. The car manufacturer has gathered almost 42% this year.

In the meantime, the largest rival – Tesla – recorded the shares tank for almost 10%for the previous week. The Tesla share campaigned by 4.8% on Monday and resigned by more than 5.8% on Tuesday in the early opening hours in Wall Street.

Compared to BYDS charging speeds of 1,000 kW, the latest version of Teslas Superchargers offers up to 500 kW of charging speed. Tesla shares were already bleeding with his brand image Take a goal from his boss's controversial policy of Elon Musk and its aging occupation of EVS.

BYD has now also eaten Tesla's market share all over the world, including China, Southeast Asia, Australia and Europe with technically loaded cheap electric vehicles. As a result, the Chinese giant took over Tesla as The world's largest seller of electric vehicles.

Build building technology across China

BYD also said that it would build over 4,000 ultra-fast loading piles or units throughout China to meet the new Super E platform. China is the world's largest EV market.

So far, the BYD owners have largely dependent on the loading facilities of other car manufacturers or public charging rods, which are operated by third-party operators for the fee of their vehicles. This is even the way BYD makes up more than a third of EV sales in China.

BYD did not indicate the time frame or how much it would invest in the construction of such facilities. However, the planned cargo network will be a new challenge for Tesla that its superchargers in China has offered since 2014.

Tesla built more than 2,000 stations or 11,500 superchargers in China from September.

Byd's smaller Chinese colleagues such as NIO, LI Auto, Xpeng and Zeekl have also been investing a large scale for years and building charging facilities. NIO has the most extensive charging network in China, including almost 2,700 almost charging stations.

Why is it quickly charged?

Fast charging technology was the key to the increasing introduction of EVS, as they help to ensure that the concerns of the EV drivers are able to quickly charge their cars.

The drivers, who are skeptical about EVS, have given the concern that their batteries could go flat during the long -distance drive. This concern caused the car manufacturers to recharge quickly, as well as battery twitting technology as solutions.

BYD boss Wang described the automotive manufacturer's decision to develop his fast-charging platform as an effort in order to “completely solve the fear of the user”.

“We have pursued the goal of gaining the loading time of electric vehicles as short as the tank time of gasoline vehicles,” said Wang.

Last year, BYD also improved its plug-in hybrid technology, which would deliver its hybrids to improve the mileage of the EVS to improve the mileage of the EVS A drive range of 2,100 kilometers Fuel on a fully charged battery and a full tank.

• Vishakha Saxena with Reuters

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