BYD announced that its flash-chargers can provide a full charge within five to eight minutes, almost as fast as filling a fuel tank.
China's energy and auto giant BYD has announced an ultrafast EV charging system that it says is nearly as quick as a fill up at the pumps. BYD, China's largest EV maker, said Monday that its flash-chargers can provide a full charge for its latest EVs within five to eight minutes, similar to the amount of time needed to fill a fuel tank. It plans to build more than 4,000 of the new charging stations across China. Charging times and limited ranges have been a major factor constraining the switch from gas and diesel vehicles to EVs, though Chinese drivers have embraced that change, with sales of battery powered and hybrid vehicles jumping 40% last year. BYD's news appeared to give Tesla a jolt on Monday, as the U.S. EV maker's share price sank 4.8%. BYD, which stands for build your dreams, began presales of its Han L and Tang L models, which are upgraded versions of earlier models. The Chinese company started out making batteries…