BYD Stock Hits Record on 5-Minute EV Charger Launch. Tesla? It’s Down for 8 Weeks in a Row

Chinese EV maker unveiled a new “Super e-Platform” tech with such a beefy charging speed you can get your car fired up and ready to go in about 5 minutes.

💥 BYD Stock Hits Record

• BYD stock 1211 rallied to a record high on Tuesday after the Chinese company unveiled a new ground-breaking technology. The Hong Kong-listed shares of the EV maker advanced more than 6% to a high of 408.80 Hong Kong dollars, equivalent to about $52 a piece ($156 billion market cap).
• The rise cooled during the session and the stock wrapped up with a 3.2% gain. Shares listed in Shenzhen hit their highest level ever at 390 yuan after booking a 2.6% pop. Moderate, compared to US volatility.

🖐️ BYD’s 5-Minute Charger

• Behind the upside swing was BYD’s announcement of its “Super e-Platform” — technology that is capable of peak charging speeds of 1,000 kilowatts. In other words, you can hook up your BYD model into one of these chargers and in just 5 minutes fill it up with enough to last you for 400 kilometers (roughly 250 miles).
• In contrast, the American EV king Tesla TSLA offers a charging speed half that power and the best it can do is 270 kilometers in about 15 minutes. Germany’s Mercedes, the granddaddy of the car industry, said last week its tech can do 325 kilometers in 10 minutes.

👀 Can Tesla Compete?

• Back to Tesla — is Tesla smoked? Shares of Elon Musk’s battered darling have lost a whopping 50% from their all-time high valuation of $480 back in December. On Monday, the stock washed out nearly 5% as it’s been caught in a widespread boycott of Tesla cars by infuriated Musk opponents.
• What’s more, Tesla on Friday clocked its eighth straight week of declines — the longest losing stretch on record. The CEO’s political activities are expected to show sales for the three months to March crashed way below initial estimates. Tesla reports quarterly deliveries early April.