BYD owns a commanding share of the EV market in China.
Transcript:
Loren Torres: The competition between Tesla and Chinese-owned BYD just got a bit hotter. BYD has unveiled its new charging system – dubbed the “Super E-Platform.” The company claims the station can charge its latest car models in just five minutes – giving the driver a 250 mile range. For comparison – Tesla’s Superchargers take 15 minutes to charge and gives drivers a 200-mile range.
At its launch event, BYD’s Chairman said “Our goal is to make EV charging as fast as refueling a gasoline car.” Deliveries of the new Super E-Platform are set to begin next month. BYD also said it will build 4,000 new charging stations across China to support the new technology.
BYD owns a commanding 32% of the Chinese market when it comes to new energy vehicle sales. Tesla owns just 6%. January saw Tesla’s sales in China plummet 19% from the year prior. It now ranks fourth in the Chinese market behind BYD, Geely, and SGMW.
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