Part 6/9:
BYD’s Groundbreaking EV Charging Technology
On a different note, China’s electric vehicle giant, BYD Co., has unveiled an innovative electric vehicle charging system that promises to significantly shorten charging times, making it comparable to filling up a traditional gasoline car. Announced by Chairman Wang Chuanfu, the new system can provide 470 km (292 miles) of range in just five minutes, positioning BYD ahead of competitors like Tesla and Mercedes-Benz.
With plans to establish more than 4,000 charging stations, BYD is strengthening its dominant position in China's EV market, currently boasting a market share of 15% and a remarkable year-on-year sales increase of 161%. This development is anticipated to reshape the global EV landscape, intensifying competition within the industry.