Shares of China’s BYD, an automobile manufacturer, soared on Tuesday after the company unveiled a new “Super e-Platform” technology, which it claims can charge electric vehicles (EVs) nearly as fast as filling a gasoline car, within five minutes.
The system boasts a peak charging capacity of 1,000 kilowatts (kW), allowing compatible vehicles to gain 400 km (249 miles) of range in just five minutes. BYD, which commands over a third of China’s EV market, plans to support this technology by constructing more than 4,000 fast-charging stations nationwide, though no timeline has been specified.
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BYD introduced the Super e-Platform alongside two new EV models that will be the first to feature the system: the Han L sedan and the Tang L SUV.
This breakthrough targets a key barrier to EV adoption: range anxiety, the fear that a battery will die before reaching a destination, according to founder Wang Chuanfu. Drivers skeptical of EVs often cite this concern, especially for long-distance travel, prompting automakers to innovate with fast-charging and battery-swapping solutions. To address potential strain on the power grid, each charger will include an energy storage unit—a move analysts say will increase costs.
Battery swapping gains traction
Rival Chinese automaker Nio is advancing an alternative approach. Since November 2024, Nio has partnered with Changan, Geely, Chery, and JAC to develop battery swap standards and expand China’s network. Nio claims its system can deliver a fresh charge in three minutes for drivers enrolled in a paid battery service plan. Nio, on March 17, also announced a deal with battery giant CATL (Contemporary Amperex Technology) to collaborate on a passenger car battery swap network. Nio already operates nearly 2,700 fast-charging stations, making it a leader in China’s charging infrastructure.
Tesla’s struggles and competition
Meanwhile, Tesla, which pioneered EV charging in China starting in 2014, has built over 2,000 stations with 11,500 Superchargers as of September 2024. However, the company saw a steep 49% sales drop in the Chinese market during the same period, signaling intensified competition from domestic players like BYD and Nio.
Tesla’s shares sank over 15% on Monday in the U.S., bringing its total 2025 losses to over 40%. Monday’s plunge erased about $127 billion from the carmaker’s market value. Tesla has now lost all its gains since November’s election of Donald Trump to the presidency.
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Even with the recent theatrics at the White House with President Donald Trump endorsing Tesla cars, it seems that the company still has a long way to go to convince investors that Tesla stock is still good.
Why BYD wants to deploy fast charging stations?
Historically, BYD owners have relied on other automakers’ charging networks or third-party public charging poles. The new super e-platform and its dedicated chargers aim to reduce this dependency.
China’s EV leadership and infrastructure
China’s dominance in EV adoption owes much to policies like Shanghai’s free license plate initiative, extended through 2025, and its massive power grid—the world’s largest. Built partly to achieve carbon neutrality by 2060, the grid addresses a geographic mismatch between power production (north and west) and consumption (east), efficiently distributing clean energy nationwide.
As competition intensifies, China’s EV market continues to evolve at breakneck speed.