Automaker sets new standard for EV charging with breakthrough tech: 'Speedier charging is definitely a plus'

Chinese automaker BYD's latest electric vehicle charging tech has jolted the company's stock price. 

The attention is worth it if Tesla's largest global competitor can pull off what it claims to have achieved: a 249-mile range on only a five-minute charge, according to the Guardian. 

The charge speed would crush already brisk 15-minute power-ups from fast chargers, including Tesla's 60,000-plus global Supercharger network. 

"In order to completely solve our users' 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 Wang Chuanfu said, per the Guardian. 

Data collector Statista reported that BYD and Tesla account for a third of global EV sales. Meanwhile, according to Reuters, the 17 million EV/hybrid vehicles sold in 2024 marked a 25% rise compared to the previous year. 

The Guardian added that BYD plans to roll out its own network of thousands of "flash-charge" stations in China, where Superchargers are also available. All the news resulted in the company's Hong Kong-listed shares to jump 6%, per CNBC. 

It's part of a tit-for-tat competition between the industry's two giants, who both have models for sale at just under $40,000 and up, depending on incentives and packages. 

The BYD Dolphin, though, sells in parts of the world for under $30,000. Car and Driver reported that Tesla intended to put a similarly priced EV on the market in 2025. 

The competition has never been realized in America, mostly due to high tariffs on imported Chinese cars as part of an ongoing international trade battle, as Capital One Auto Navigator reported. 

But the tech could inspire innovation from other brands, resulting in greater adoption of cleaner rides and a win in the effort to reduce heat-trapping air pollution. Planet-warming tailpipe exhaust is also a detriment to our health. The American Lung Association said that reducing these gases can help to save lives and alleviate asthma, among other health issues. 

If you were going to purchase an EV, which of these factors would be most important to you? Cost Battery range Power and speed The way it looks Click your choice to see results and speak your mind.

BYD's charging breakthrough would essentially crush one of the fears holding some potential EV buyers back by equating it to a gas-up speed. In England, startup Nyobolt has developed a battery that can charge to 80% in under five minutes as well. 

The Guardian reported that BYD's latest tech will initially be available in a sedan and an SUV. But the sector has some more work to consider as it tries to keep the momentum going, according to an expert in CNBC's report. 

"Speedier charging is definitely a plus, but it ranks behind overall battery range and convenience of charging ports as priorities for EV owners," market research firm Dunne Insights CEO Michael Dunne said. 

It remains a great time to buy an EV stateside, as tax breaks of up to $7,500 for certain new models, and $4,000 for used ones, remain available. That's in addition to the $1,500 in gas/maintenance costs you can bank annually after switching. 

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