BYD Unveils Battery System that Charges EVs in Five Minutes
Tesla's primary EV rival, BYD (Build Your Dreams), has announced that they've developed chargers that add up to 250 miles of range in five minutes. Tesla's Superchargers, currently the fastest EV chargers around, provide up to 200 miles of electric range in 15 minutes via a 250 kW charger. Tesla plans to release 500 kW chargers this year, but this technology would still fall short of BYD, the world's largest EV manufacturer. Wang Chuanfu, the Shenzhen-based group's founder, announced BYD's new charging solution Monday, named the Super e-Platform, during a livestream from the company's headquarters.
'This is the first time in the industry that the unit of megawatt has been achieved on charging power,' Wang said, according to The Guardian. BYD plans to build and install 4,000 Super e-Platform charging stations throughout China, and the company will feature the new charging architecture in its Han L sedan and Tang L SUV, both of which start at $37,300. These vehicles will be available starting next month. The automaker is currently focusing on Asian and European markets as regulatory and legal barriers currently exclude the possibility of Americans importing a BYD.
BYD's Super e-Platform has a charging power of 1,000 kW (one megawatt) and can handle up to 1,000 amps, translating to charging rates of about 1.24 miles per second and 248.54 miles in five minutes. Shay Natarajan, partner at Mobility Impact Partners private equity fund, explained that BYD uses a more sophisticated battery cooling system than companies like Tesla before noting: 'This lets the battery reach peak charging power faster and sustain that peak power longer during the charging cycle, thus increasing the average charging power during the charging cycle and allowing for significantly faster charging,' according to the Financial Times.
Range anxiety, or a driver's fear of running out of charge, and the time it takes to charge an EV are two primary factors slowing electric car transition rates. However, BYD's charging development moves EVs significantly closer to matching the fill-up times for internal combustion engine cars, essentially eliminating the second of the two factors. Some feel that BYD's new charging technology could shorten a battery's lifespan, but this claim hasn't been confirmed. Conversely, the Super e-Platform's release suggests that BYD has overcome several roadblocks in ultrafast charging, like safety risks, higher installation costs, and shorter battery lifespans.
BYD shares rose as much as 6% Monday after news of the Super e-Platform's upcoming release, creating a market value for the company of just below $162 billion and contributing to its stock rise of around 58% overall this year.
The next annual Tesla shareholders meeting in June is fast approaching, and BYD's Super e-Platform announcement has compounded the Austin, Texas-based EV maker's troubles, which include a 44% average overall stock decline as of yesterday. During last year's Tesla shareholder meeting, which largely centered around the reinstatement of Elon Musk's $55 billion-plus pay package, the automaker emphasized its focus on developing self-driving and robotic technology. As a result, BYD has been leaving Tesla behind in the race for better EV charging solutions.
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