An apparent battery breakthrough could be good news for the EV industry from a Chinese company that previously pledged to work with Tesla.
BYD unveiled a new battery and charging system that can charge almost as fast as it takes to refuel a regular car. Tesla's Chinese rival will start selling vehicles with the new technology next month.
Chinese EV maker BYD (BYDDY) announced plans to roll out its new quick charging EV technology. The company boasts a 5-minute charge, which it believes is roughly the same amount of time it takes a regular vehicle to fill up a gasoline tank.
Chinese electric vehicle giant BYD has just started work on picking a location for its third plant in Europe, which it expects to complete in 7-8 months, its special adviser for Europe said on Tuesday.
CNBC's Joe Kernen reports on the latest news.
The two EV stocks have been moving in different directions in 2025.
Shares of BYD, the world's largest electric-vehicle maker by deliveries, rose on Tuesday after the Chinese company said it's rolling out a system that will recharge a vehicle in about the same time as it takes for people to fill up a car with gasoline.
China's BYD has unveiled a megawatt charging system that it says can charge an EV as quickly as filling up a fuel tank, and said it will build a network across China, igniting a new super charging race.
BYD's shares rose in Hong Kong after the Chinese electric vehicle giant unveiled its new fast-charging technology and announced an employee share incentive plan.
BYD shares were trading in the green on Tuesday morning after the electric vehicle (EV) maker introduced its new charging tech. BYD's Hong Kong shares climbed up around 6% to hit a new 52-week high of HKD 408.80.
BYD shares jumped on Tuesday after the company announced a new technology that allows electric cars to be charged at a far faster rate.
Byd Co. (BYDDY) made it through our "Recent Price Strength" screen and could be a great choice for investors looking to make a profit from stocks that are currently on the move.