Chinese electric vehicle manufacturer BYD has unveiled a new charging system capable of adding enough charge in five minutes to travel 292 miles (470 kilometers). This advancement positions BYD competitively against Tesla, whose Superchargers add up to 171 miles in 15 minutes.
BYD’s chairman and founder, Wang Chuanfu, announced plans to establish 4,000 charging stations to support this technology. The first models to feature the five-minute charging system will be the Han L sedan and Tang L SUV, set for release in April at prices starting at 270,000 yuan ($37,338).
BYD sold over 318,000 passenger vehicles last month, doubling its sales from the previous year and securing a 15% market share in China. Tesla’s shipments in China dropped 49% last month, highlighting BYD’s growing dominance in the domestic market.
— news from Quartz