BYD may have done away with range anxiety once and for all.
The Chinese automaker has just unveiled a new charging system that has the potential to make driving a battery-powered vehicle more convenient than ever before, according to The Verge. The company claims the new tech will allow drivers to recharge its EVs in about the same time it takes to fill up a gas-powered vehicle.
The company’s new Super e-Platform system is capable of recharging the battery of compatible EVs at speeds of up to 1,000kW, or 1 megawatt. That makes the technology twice as fast as Tesla’s fourth-generation supercharger cabinets, which will top out at charging speeds of 500kW when they launch later this year.
Even more impressive is how the system enables drivers to recharge their EVs at a rate comparable to filling up the tank of an ICE vehicle. BYD claims that its charging speeds will allow drivers to add 400 km (roughly 249 miles) in just five minutes. That is comparable with the time it takes someone to pull into a gas station and fill up their tank.
“In order to completely solve our users’s charging anxiety, we have been pursuing a goal to make the charging time of electric vehicles as short as the refueling time of petrol vehicles,” BYD founder and CEO Wang Chuanfu said during the launch event.
BYD also announced plans to make a major investment in China’s charging infrastructure. The company has committed to building 4,000 Super e-platform chargers across the country, according to Bloomberg. The fastest charging speeds, at least initially, will only be accessible by the new Han L sedan and Tang L SUV models, which are expected to start at around $37,000 each. Unfortunately neither EV, or any other made by the brand, are expected to be available in the U.S. any time soon.
News of BYD’s new ultra-fast EV charging tech is already causing excitement outside of the auto industry. In the wake of the announcement, shares of the company listed in Hong Kong rose by more than 6 percent to a new 52-week high, according to Bloomberg. That pushed the company’s market capitalization to $162 billion, which is more than that of Ford, General Motors and Volkswagen AG combined. It’s well behind that of Tesla, which is valued at over $700 billion, but the Chinese company is gaining ground fast.
