BYD, the Chinese electric vehicle (EV) maker, says it's built a new charging system that can power up one of its cars in five minutes. That's almost as fast as filling up a gas-fueled car. The company is a big competitor with Tesla around the world. BYD cars are normally cheaper than Teslas. But they aren’t for sale in America. Even if they were, the current 100% tariff slapped on Chinese automobiles by the US government would put them out of reach for most US car buyers. However, industry experts say the new BYD charger is bad news for Tesla. At present, Tesla is losing sales and stock value. It's in part because of CEO Elon Musk’s political activities. This includes his support of right-wing political movements in Europe. His efforts on behalf of President Trump to slash US government spending are a factor too. BYD’s new system is called the “Super E-Platform.” It'll be featured first in the company’s Han L sedan and Tang L SUV, with deliveries expected as early as April, BYD officials said. The new system will allow cars to reach a range of 249 miles in five minutes of charging. That's roughly three times as fast as Tesla's superchargers. They provide a range of 200 miles. “Tesla has definitely moved from leader to laggard in EV battery and charging (tech),” Matt Teske, CEO of Chargeway, told Axios. Chargeway is an EV charging startup. BYD said it plans to open 4,000 super-fast charging stations around China. “Our goal is to make EV charging as fast as refueling a gasoline car,” BYD Chairman Wang Chuanfu announced at a launch event. BYD’s stock jumped at news about the new charger. Tesla stock, meanwhile, is suffering its eighth straight week of declines. Reflect: How can improvements in charging technology impact the future of electric cars? Photo of a general view of BYD's new electric vehicle factory's construction site from Reuters.
