Chinese electric vehicle (EV) maker BYD has hit a record high on its stock after the company announced its new megawatt flash-charging platform.
The manufacturers shares jumped more than 6% per share on Tuesday after announcing the new technology on Monday, according to the FT.
In a live stream, the company’s founder Wang Chuanfu claimed the new charging system will add 470km of range to EV batteries in five minutes.
This faster charging time has reportedly come from a redesign of the blade batteries, enabling the new batteries to support up to 1,000 volts and charging currents of up to 1,000 amps.
BYD said two popular sports models will be equipped with the ultra-fast charging system; the Han L EV and the Tang L EV.
It is yet to be announced when the new platform models will be made available for purchasing.
Just over a month ago the company also announced its advanced self-driving system, dubbed ‘God’s Eye’. This platform will reportedly be installed on the carmaker’s entire model line-up.
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