BUZZ-China's BYD jumps on new super-charging EV tech

Reuters
03-18
BUZZ-China's BYD jumps on new super-charging EV tech

** Hong Kong shares of Chinese electric vehicle $(EV)$ maker BYD Co Ltd 1211.HK jump 6% to HK$408.8, their highest since February 27

** Shenzhen-listed stock rises 2.6% to all-time high at 390 yuan

** BYD on Monday unveiled a new platform for EVs that it said could charge EVs as quickly as it takes to pump gas and announced for the first time that it would build a charging network across China

** The "super e-platform" will be capable of peak charging speeds of 1,000 kilowatts (kW), enabling cars that use it to travel 400 km (249 miles) on a 5-minute charge

** Says the new charging architecture will be initially available in two new EVs - Han L sedan and Tang L SUV

** Nomura, with "Buy" rating, says Super E platform to accelerate battery EV (BEV) adoption and BYD enters the megawatt fast-charging era

** Hang Seng Tech Index .HSTECH surges 2.3%, Hang Seng Index .HSI climbs 1.8%

** YTD, Hong Kong stock up 49.4%, Shenzhen shares up 37%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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