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Shares of BYD Co (HK:1211) surged to an all-time high on Tuesday following the company's launch of an advanced electric vehicle (EV) platform with ultra-fast charging technology and plans for a nationwide charging network.
Unveiled on Monday, BYD’s "super e-platform" features a cutting-edge 1,000-volt architecture, delivering peak charging speeds of up to 1,000 kilowatts. This breakthrough allows EVs to gain 400 kilometers (249 miles) of range in just five minutes, according to founder Wang Chuanfu.
To support this innovation, BYD aims to roll out over 4,000 ultra-fast charging units across China, though the company has not disclosed a timeline or investment details.
Investor enthusiasm drove BYD’s Shenzhen-listed shares (SZ:002594) up 2.6% to 390 yuan, their highest price ever, before settling at 381.93 yuan by 03:35 GMT. Meanwhile, Hong Kong-listed shares soared 5% to HK$404.60.
As a global leader in EV technology, BYD’s latest advancements position it at the forefront of the industry, further intensifying competition in the rapidly growing electric vehicle market.
