Chinese automaker BYD has introduced a battery system that allows for charging an electric vehicle in just five minutes, rivaling the time it takes to refuel a conventional gasoline-powered car.
BYD's innovation offers 249 miles of range in five minutes of charging, while Tesla's fastest charging capability provides 170 miles in 15 minutes using its high-voltage superchargers.
BYD's stock value surged after the announcement, reflecting investor confidence in the company's advancements in the EV market.
BYD, China's top EV manufacturer, has been aggressively expanding into international markets, including Europe and South America.