Loren Torres brings you the biggest news of the day, including how BYD’s new Super E-Platform charging station.
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00:00The competition between Tesla and Chinese-owned BYD just got a bit hotter.
00:04BYD has unveiled its new charging system dubbed the Super-E platform.
00:09The company claims the station can charge its latest car models in just five minutes,
00:14giving the driver a 250-mile range.
00:16For comparison, Tesla's Superchargers take 15 minutes to charge and give drivers a 200-mile
00:21range.
00:22At its launch event, BYD's chairman said,
00:24Our goal is to make EV charging as fast as refueling a gasoline car.
00:29Deliveries of the new Super-E platform are set to begin next month.
00:32BYD also said it will build 4,000 new charging stations across China to support the new technology.
00:38BYD owns a commanding 32 percent of the Chinese market when it comes to new energy vehicle
00:43sales.
00:44Tesla owns just 6 percent.
00:45January saw Tesla sales in China plummet 19 percent from the year prior.
00:49It now ranks fourth in the Chinese market behind BYD, Geely and SGMW.
00:55That'll do it for your daily briefing.
00:56From New York City, I'm Lauren Torres with The Street.