BYD Unveils High-Speed EV Charging Platform, Doubling Tesla's Speed; Stock Hits Record High

BYD (BYDDF, Financials) introduced a new electric vehicle platform reportedly capable of reaching charging speeds of up to 1,000 kilowatts, twice the capacity of Tesla's (TSLA, Financials) latest 500 kW superchargers. Shares rose as much as 6.0% to a record HK$408.80 ($52.61) early Tuesday before paring gains to 3.2%. The breakthrough represents a turning point in the EV sector as it lets cars go 400 kilometers (249 miles) after a five-minute charge. Addressing a major issue among EV buyers, the Chinese automaker's "super e-platform" seeks to lower charging time to levels similar to gasoline filling. Han L sedan and Tang...