BYD Shares Surge Over 3% in Afternoon Trading as Citi Foresees Megawatt Charging Lead

Stock News03-09 14:37

BYD Company Limited (01211) rose more than 3% in afternoon trading. At the time of writing, the stock was up 3.12% to HK$97.65, with a turnover of HK$3.571 billion. On March 5, BYD officially launched its second-generation Blade Battery and flash charging technology, setting a new global record for the fastest mass-produced charging speed. Charging from 10% to 97% takes only 9 minutes. The energy density of the second-generation Blade Battery is 5% higher than the first generation, and the Denza Z9 GT equipped with this battery boasts a range of 1,036 kilometers. Citi stated in a research report that advanced battery and charging capabilities require systematic technological progress, which is not easily replicated by peers, estimating that this will give BYD a market lead of at least six months. Building ultra-fast charging infrastructure can generate spillover effects by enhancing BYD's brand competitiveness, and the bank considers this investment worthwhile. With its advanced ultra-fast charging technology, BYD is expected to focus on its premium brand strategy this year.

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