BYD's (HKG:1211, SHE:002594) rolled out a fast charger that allows electric cars to charge nearly as quickly as refueling a gas tank, Yicai Global reported Tuesday.
The Super e-Platform is able to deliver up to one megawatt of power, allowing vehicles to charge to a capacity of 400 kilometers in five minutes, the report said, citing Chairman and President Wang Chuanfu.
The charger is the first of its kind that is mass produced, the report said, citing Wang.
BYD plans to set up more than 4,000 fast-charging stations across China, and will share the technology with the wider industry, the report said.
Shares jumped 3% in Hong Kong and Shenzhen during Wednesday's afternoon trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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