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Illuminem summarises for you the essential news of the day. Read the full piece on CNN or enjoy below:
🗞️ Driving the news: Chinese EV giant BYD has unveiled a new “Super E-Platform” charging system that can add 250 miles of range in just five minutes
• To support the innovation, BYD (See sustainability performance) plans to build 4,000 ultra-fast charging stations across China
• The announcement intensifies competition in the world's largest auto market, especially against Tesla
🔭 The context: Tesla’s Superchargers take about 15 minutes to provide 200 miles of range, making BYD’s new technology a potential game-changer
• BYD also launched pre-orders for models equipped with this technology, with deliveries set to begin next month
• Meanwhile, Tesla (See sustainability performance) started free trials of its Full Self-Driving (FSD) service in China, despite ongoing regulatory and technical hurdles
🌍 Why it matters for the planet: Faster charging times could accelerate EV adoption by reducing range anxiety and making EVs more convenient
• BYD’s rapid expansion of charging infrastructure supports a shift away from fossil fuel-powered vehicles
• The innovation also increases pressure on global automakers to advance clean energy solutions
⏭️ What's next: If successful, BYD’s new charging system could set a new industry standard, pushing competitors like Tesla to improve their own charging speeds
• Tesla faces additional hurdles in China, including regulatory challenges and declining market share
• BYD's continued dominance in China’s EV market suggests it may expand its lead over Tesla in innovation and sales
💬 One quote: “Our goal is to make EV charging as fast as refueling a gasoline car.” — Wang Chuanfu, BYD Chairman
📈 One stat: BYD held a 32% market share of China’s new energy vehicle sales in 2024, while Tesla accounted for only 6.1%
See here detailed sustainability performance of companies like BYD and Tesla, Inc.
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