Chinese EV maker BYD (BYDDF) has unveiled a breakthrough new EV battery charging technology, raising the bar for its American rival Tesla’s (TSLA) Superchargers. BYD’s new battery technology allows charging at speeds comparable to refueling a petrol car. This innovation eliminates one of the biggest barriers to EV adoption, potentially giving BYD a significant edge over Tesla. Following the announcement, BYD’s Hong Kong-listed shares (HK:1211) gained over 4% as of writing, hitting their record-high point.
Notably, Tesla Superchargers are a network of high-speed charging stations designed specifically for Tesla EVs (electric vehicles).
BYD Just Made EV Charging Lightning-Fast
On Monday, BYD introduced its cutting-edge “Super e-Platform,” built on a powerful 1,000-volt architecture that supports peak charging speeds of up to 1,000 kilowatts (kW). This breakthrough allows EVs to gain roughly 400 kilometers (249 miles) of range in just five minutes. Notably, two new electric models, the Han L sedan and the Tang L SUV, will be the first to incorporate this advanced technology.
To complement this high-speed charging technology, BYD plans to deploy more than 4,000 ultra-fast charging stations across China. However, the company has not yet disclosed the timeline or investment details for this large-scale infrastructure expansion.
In comparison, BYD’s charging speeds would surpass Tesla’s Superchargers, which currently provide up to 275 kilometers of range in 15 minutes. However, Tesla maintains a strong edge in charging infrastructure with a global network exceeding 65,000 Superchargers. Meanwhile, Tesla’s Superchargers currently max out at 500 kW charging speeds.
TSLA or BYDDF: Which EV Stock Offers More Upside?
Using the TipRanks Stock Comparison Tool, we have compared TSLA and BYDDF stocks on various parameters. Analysts rate BYDDF as a Moderate Buy, while TSLA holds a consensus rating of Hold. Despite this, TSLA presents a higher upside potential of 36%, largely due to its steep year-to-date decline of over 40%. In comparison, BYDDF is projected to grow by 14.65%.
In terms of investor sentiment, TSLA carries a Very Negative score, influenced by CEO Elon Musk’s political involvement and weak sales in key markets. Conversely, BYDDF enjoys a Very Positive investor sentiment.
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