BYD stock jumped to a record Wednesday after the Chinese electric vehicle manufacturer unveiled new fast-charging technology.

Shares jumped as much as 4% in Hong Kong trading.

BYD said its new fast-charging system, available on new sedan and sport-utility models set to go on sale next month, would provide 400 kilometers (249 miles) of range in just five minutes, The Wall Street Journal reported.

The system is designed to deliver peak charging speeds of 1,000 kilowatts, which, in theory, could provide that five-minute "fill up" to most EVs. That's about as fast as pumping gas.

EVs typically recharge at the fastest rates to 70% or 80% of total battery capacity and then slow down to preserve battery life. The process is automatic. Going from 0% charge to 100% in an EV that has 320 miles of total per charge range would take a little longer than BYDs five minute claim.

Still, the number is impressive. Tesla's peak charging speeds in their most recent technology support about 500 kilowatts. Half as fast. That means a theoretical fill-up in about 10 minutes.

All EV makers are working to improve charging times to help remove one barrier for EV purchases. Charging availability is another barrier EV makers face. BYD will roll out 4,000 of the new chargers across China. Tesla has about 12,000 charging points in China.

BYD's new technology could help the company, which is already China's top EV seller, to shift even more cars. That would be another blow for U.S. EV maker Tesla, which is battling to cling onto its market share in China as CEO Elon Musk's political activities drive away customers elsewhere. Tesla stock slid 5.3% on Tuesday, while the S&P 500 and Dow Jones Industrial Average fell 1.1% and 0.6%, respectively.

BYD sold about 4.3 million cars from its plants in China in 2024. About 1.8 million were all electric. (BYD sells plug-in hybrids too.) BYD's best-selling all-electric car is the low-priced Seagull. It sold about 530,000 in 2024, according to Citi analyst Jeff Chung.

Tesla sold about 920,000 cars from its plant in Shanghai in 2024. About 560,000 were Model Ys.

The two EV stocks have been moving in different directions in 2025. Through Tuesday trading, BYD stock was up 51%, with investors betting that China's faltering economy is primed for a rebound. Tesla shares have slumped 44% amid worries that Musk's right-wing posturing will alienate would-be buyers in North America and Europe.