India, March 18 -- Shares of China's BYD rallied on Tuesday after the company introduced a revolutionary charging technology that could power electric vehicles in nearly the same time it takes to refuel a gasoline car.
BYD's Hong Kong-listed stock surged over 6 percent at market open, hitting a 52-week high before settling around 4.2 percent higher. The company claims this breakthrough enables EVs to gain a 400-kilometer, 249-mile range with just five minutes of charging.
This innovation intensifies BYD's competition with Tesla and other automakers investing in fast charging technology. Tesla's latest superchargers currently offer up to 500 kilowatts, providing 270 kilometers of range in 15 minutes, while Mercedes-Benz recently announced ...