Tesla Killer: China’s BYD Says It Can Now Charge an Electric Car in 5 Minutes

Chinese automaker BYD continues to leave Tesla in the dust. The company introduced a new battery system on Monday that it claims can charge an electric vehicle in just five minutes, about the same time it takes to refuel a traditional car. The feat has long been a goal of the industry, which is still trying to overcome thorny hurdles around charging that have held potential buyers back. The company specifically claims it can provide 249 miles of range in 5 minutes in its new Han L sedan. That compares to Tesla’s best charging rate, which can add 170 miles of range in 15 minutes at one of its high-voltage Superchargers. Elon Musk years ago bet big on an in-house battery to provide extended range to his company’s vehicles, but seemingly found battery development is harder than expected, as the 4860 battery has not lived up to expectations. BYD’s stock rose on the news to reach a market value of roughly $158 billion. It is up approximately 58% so far this year. There has been some conc ... Read full article.