China Ev Giant Byd Soars After 5-minute Charging Platform Unveiled

Shares in Chinese EV giant BYD surged to a record high Tuesday after it unveiled new battery technology it says can charge a vehicle in the same time it takes to fill up a petrol car.

The company said the battery and charging system, called 'Super e-Platform', boasted peak speeds of 1,000 kW, allowing cars to travel up to 470 kilometres 292 miles after being plugged in for just five minutes.

The new technology aims to 'fundamentally solve users' charging anxiety', according to BYD founder Wang Chuanfu.

'Our pursuit is to make the charging time of electric vehicles as short as the refuelling time of fuel vehicles,' he said at Monday evening's launch.

Hong Kong-listed shares in BYD jumped more than 6 to hit a fresh peak at one point Tuesday morning before paring some of the gains.