BYD Unveils Revolutionary Fast-Charging Technology, Announces Ambitious Charging Network
SHANGHAI, March 18 (Reuters) – BYD (002594.SZ), a leading Chinese electric vehicle (EV) manufacturer, has introduced a groundbreaking megawatt charging system, asserting it can recharge an EV in a timeframe comparable to fueling a conventional gasoline vehicle. Complementing this technological leap, BYD has disclosed plans to construct a comprehensive charging network spanning the entirety of China, setting the stage for a new “super charging” race.
Why Fast-Charging Matters
One of the primary concerns voiced by potential EV buyers centers on the issue of range anxiety, or fear of running out of charge during long journeys. Automakers are actively addressing this concern by developing not only fast-charging capabilities but also battery-swapping technologies. These innovations are increasingly being highlighted as pivotal selling points in the highly competitive Chinese automotive market, contributing significantly to the rapid adoption of EVs.
BYD’s Technology: A Comparative Analysis
BYD’s “super e-platform” is designed for peak charging of 1,000 kilowatts (kW). According to the company, this technology will allow vehicles using the platform to gain 400 km (249 miles) of range with just a five-minute charge.
The company has integrated several advanced technologies to achieve such performance, including batteries with a 10C charging multiplier. This means they can be charged at a rate that is ten times the battery’s capacity per hour. Other components include high-power motors, high-volt silicon carbide power chips, and fast chargers that support 1,000 kW of power.
In contrast, Tesla (TSLA.O) primarily uses a 400-volt system that can charge its EVs at up to 250kW. The Cybertruck, however, operates on an 800-volt architecture with a maximum rate of 350kW, while the Semi truck has a 1,000-volt powertrain. Zeekr (ZK.N), a premium EV brand owned by Geely (GEELY.UL), launched an 800-volt platform last year. This platform can charge 80% of a 75-kwh battery in its Zeekr 007 sedan in about 10.5 minutes. Further contributing to the competitive landscape, Li Auto (2015.HK) and Xpeng (9868.HK) have similar technology, enabling drivers to gain over 400 km of driving range with a 10-minute charge.
Building a Charging Network
Despite accounting for over one-third of all EV sales in China, BYD owners have largely relied on existing charging facilities, particularly those managed by third-party operators. Recognizing the need for a dedicated infrastructure to support its cutting-edge fast-charging technology, BYD has announced the construction of over 4,000 charging stations throughout China. While a specific timeframe has not been provided, the company has expressed an openness to collaborating with external investors to boost the expansion of its charging network.
However, BYD is entering a market where competitors have already established a presence. Nio (9866.HK) currently boasts the most extensive charging network in China. Its charging network includes almost 2,700 fast-charging stations. Tesla has also built more than 2,000 stations, with 11,500 Superchargers as of September. Smaller players like Li Auto, Xpeng, and Zeekr have also been ramping up their efforts, with Li Auto building 1,900 fast charging stations since April 2023.
Moreover, Zeekr is targeting 100,000 ultra-fast charging poles, or 2,000 ultra-fast charging stations nationwide, by 2026. Huawei (HWT.UL) has also developed liquid-cooled ultra-fast charging piles supporting a maximum charging power of 600kW and vehicles with up to a 1,000-volt architecture. Huawei’s deployment of charging facilities, including ultra-fast chargers, had surpassed 50,000 piles as of last year.
Potential Concerns
Analysts have expressed concerns that the widespread adoption of fast-charging technology could place a strain on the power grid’s capacity. This scenario would require extensive and costly infrastructure upgrades. To address this challenge, BYD has said it will equip each fast charger with an energy storage unit. While this may mitigate grid strain, analysts note it may come at the cost of making the facilities more expensive.
