China's leading electric vehicle and energy company, BYD, has introduced a high-speed EV charging system that promises a charging time similar to filling up at a gas station. The flash-chargers can fully charge BYD's latest EV models in just five to eight minutes, aiming to address the issue of long charging times that have hindered the transition from traditional fuel vehicles to EVs. BYD plans to deploy over 4,000 of these rapid charging stations across China, reflecting the increasing demand for electric and hybrid vehicles in the country.

The news from BYD has had an impact on its competitors, with Tesla's stock price dropping by 4.8% following the announcement. BYD, which stands for 'build your dreams,' has launched upgraded models, Han L and Tang L, and emphasized its focus on reducing charging time to eliminate user concerns about range anxiety. The company's flash-charging technology uses high-voltage silicon carbide power chips and a Blade lithium-ion phosphate battery, known for its safety and efficiency.

While BYD experienced significant growth in the production of new energy vehicles in 2024, it faces challenges in terms of quality, with some of its models ranking poorly in industry studies. Despite this, BYD's innovative approach to fast-charging technology and expanding product lineup signal its commitment to driving the shift towards electric mobility in China and beyond.