Shares of BYD Company (01211), the leading new energy vehicle (NEV) maker, surged 7.91% on Thursday after the company's chief scientist, Lian Yubo, provided a promising outlook on the development and adoption of solid-state batteries.

Speaking at the 2024 World New Energy Vehicle Congress in Haikou, Lian said that while widespread use of solid-state batteries may still be difficult to achieve in the next three years, he expects the technology to be realized within five years. Initially, solid-state batteries are likely to be implemented in high-end models, gradually making their way into mid-range and budget vehicles over time.

Lian acknowledged the current challenges faced by solid-state battery technology, including high costs, complex manufacturing processes, and the difficulty of integrating the batteries with vehicles. However, he emphasized that BYD is conducting in-depth research in this field, underscoring the company's commitment to staying at the forefront of battery innovation.