BYDcar
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Chinese BYD's latest cars can be charged in 5 minutes, so share prices soar
Chinese electric car company BYD's latest cars can be fully charged in 5 minutes for a 400km trip, and its stock price has soared to record highs.
Competitors American Tesla (Tesla) electric car needs 15 minutes to charge to drive a distance of 275 km.
BYD's Hong Kong stock has risen six percent in the past two days, bringing the company's market value to $154 billion. This situation can put a lot of pressure on the Tesla Electric Car Company.
Tesla's shares have plunged 40 percent at the start of the year, as global sales of Tesla vehicles have fallen. Tesla shares fell another 5.3 percent after BYD announced that its latest cars need only 5 minutes to charge.
BYD's latest Han L and Tang L models, which can be fully charged in 5 minutes, will go on sale in April and will be priced at $37,300 and $50,000 respectively.
China used to have low-cost electricity, Although only able to produce industrial and technical equipment, in the past 5 years, it has been able to produce high-tech products comparable to the world.
Even German automakers VW and Mercedes, which have dominated the car market for years, are facing difficulties as they compete with Chinese automakers, closing factories as their markets shrink further.
#BYDcar
Chinese BYD's latest cars can be charged in 5 minutes, so share prices soar
Chinese electric car company BYD's latest cars can be fully charged in 5 minutes for a 400km trip, and its stock price has soared to record highs.
Competitors American Tesla (Tesla) electric car needs 15 minutes to charge to drive a distance of 275 km.
BYD's Hong Kong stock has risen six percent in the past two days, bringing the company's market value to $154 billion. This situation can put a lot of pressure on the Tesla Electric Car Company.
Tesla's shares have plunged 40 percent at the start of the year, as global sales of Tesla vehicles have fallen. Tesla shares fell another 5.3 percent after BYD announced that its latest cars need only 5 minutes to charge.
BYD's latest Han L and Tang L models, which can be fully charged in 5 minutes, will go on sale in April and will be priced at $37,300 and $50,000 respectively.
China used to have low-cost electricity, Although only able to produce industrial and technical equipment, in the past 5 years, it has been able to produce high-tech products comparable to the world.
Even German automakers VW and Mercedes, which have dominated the car market for years, are facing difficulties as they compete with Chinese automakers, closing factories as their markets shrink further.
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