BYD Shares Soar to Record High After EV Reveal

BYD's shares hit a record high after unveiling electric vehicles with ultra-fast charging. The new system allows a driving range of up to 400 km, boosting market value.


BYD Shares Soar to Record High After EV Reveal

BYD company shares have established a record level after the introduction of a series of electric transport vehicles, supported by super-fast charging equipment, which, according to the words of the Chinese automaker, allows charging the transport vehicle at the same speed as a regular car refuels with fuel.

The president and founder of BYD, Wang Chuanfu, stated on Monday that the new battery and charging system of the company can ensure that the transport vehicle covers about 400 kilometers (249 miles). BYD's shares rose by 6% upon the reopening of trading in Hong Kong on Tuesday, bringing its market capitalization to $5.81 billion; this is more than that of Ford Motor, General Motors, and Volkswagen combined.