BYD shares hit record high as automaker unveils supercharging EV platform

Investing.com-- Shares of China’s BYD Co (HK:1211) reached a record high on Tuesday, following the company’s announcement of a new electric vehicle (EV) platform featuring ultra-fast charging capabilities and plans to establish a nationwide charging network.

BYD unveiled its "super e-platform" on Monday, designed with a 1,000-volt architecture capable of peak charging speeds up to 1,000 kilowatts. This advancement enables EVs to gain approximately 400 kilometers (249 miles) of range with just a five-minute charge, founder Wang Chuanfu stated during a live-streamed event.

To support this technology, BYD plans to install over 4,000 ultra-fast charging units across China. The company did not specify the timeline or investment details for this infrastructure rollout.

Shenzen-listed BYD shares (SZ:002594) rose as much as 2.6% to 390 yuan, their highest level ever. They were trading at 381.93 yuan as of 03:35 GMT.

Hong Kong-listed stock jumped as much as much as 5% to HK$404.60 on Tuesday.

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