BYD has unveiled a new system for electric vehicles, which, according to the Chinese automaker, allows for charging nearly as fast as fueling a conventional car.
BYD Chairman Wang Chuanfu stated that a new battery and charging system was able to achieve a range of 470 kilometers in just five minutes during tests with the new Han L model.
Fast battery charging is a crucial selling point: If charging becomes as quick as refueling, it could convince hesitant drivers to transition to electric vehicles without the need for extended stops.
This new system, which will support many of the company’s future EVs, could provide BYD with another competitive advantage. The automaker has recovered from past setbacks and risen to become a formidable competitor to Tesla.
"BYD is taking the game to another level," said Lei Xing, an independent Chinese automotive analyst.
BYD's Hong Kong-listed shares closed nearly unchanged on Monday. The stock has risen by about 45% this year, in stark contrast to Tesla shares, which have recorded a 40% decline since the beginning of the year.
BYD Factory in Germany?
BYD is also continuing its expansion strategy: According to an insider, Germany is being considered as the location for BYD’s third assembly plant in Europe. Western Europe is being evaluated as a potential site since regional production could strengthen the brand and improve consumer acceptance, according to a source familiar with the matter, who spoke with Reuters.
Germany is reportedly the top choice, although concerns remain internally due to high labor and energy costs, low productivity, and limited flexibility. A final decision has yet to be made, and BYD has not responded to requests for comment.
BYD Vice President Stella Li recently told Automobilwoche that the company is considering a third production facility in addition to its plants in Hungary and Turkey. However, she did not disclose potential locations.
According to the insider, BYD must comply with directives from the Chinese government, which prohibits investments in countries that supported the European Union’s tariffs on Chinese EVs. As a result, France and Italy are ruled out, while Germany, which voted against the tariffs, remains a viable option.
Crucial Sales Development
However, the final decision on a new European plant will depend on BYD’s sales performance and the capacity utilization of its Hungarian and Turkish factories, the source added. The Hungarian plant is set to begin operations in October 2025, while the Turkish facility will start production in March 2026. Together, these two plants will have an annual production capacity of approximately 500,000 vehicles.
In January 2025, Reuters reported, citing insiders, that Chinese automakers might be interested in excess Volkswagen production facilities in Germany. Volkswagen recently extended production of the T-Roc Cabriolet in Osnabrück until 2027, but the long-term future of the plant, which employs around 2,300 workers, remains uncertain.
BYD had previously expressed interest in acquiring Ford’s Saarlouis factory, but the deal ultimately fell through.
(Sources: Bloomberg, Reuters, dob)
