BYD shares soar to record high after breakthrough, as Tesla falters

Tokyo | Investors are betting that BYD’s new ultra-fast charging technology will accelerate the company’s growth in China and globally, pushing its stock to a record high, as rival Tesla struggles with declining sales. Shares in BYD rose 3 per cent on Wednesday after the electric vehicle maker unveiled its Super e-Platform, which offers charging speeds of one megawatt – twice as powerful as Tesla’s fastest superchargers. The Chinese company claims the technology can provide enough power for 400 kilometres of driving range in just five minutes, comparable to refuelling a petrol vehicle. Loading…