Market Chatter: BYD Launches Super-Fast EV Charger; Shares Rise 3%

MT Newswires Live03-19

BYD's (HKG:1211, SHE:002594) rolled out a fast charger that allows electric cars to charge nearly as quickly as refueling a gas tank, Yicai Global reported Tuesday.

The Super e-Platform is able to deliver up to one megawatt of power, allowing vehicles to charge to a capacity of 400 kilometers in five minutes, the report said, citing Chairman and President Wang Chuanfu.

The charger is the first of its kind that is mass produced, the report said, citing Wang.

BYD plans to set up more than 4,000 fast-charging stations across China, and will share the technology with the wider industry, the report said.

Shares jumped 3% in Hong Kong and Shenzhen during Wednesday's afternoon trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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