China's BYD to Roll Out Ultra-Fast Chargers Across Europe

Chinese carmaker BYD plans to invest nearly €2 billion in building a network of ultra-fast charging stations across Europe, according to the Financial Times. The investment aims to extend so-called "flash-charging" technology, which can replenish an electric car's battery in minutes, to all of the brand's mainstream models.

The world's largest electric car maker wants to build around 3,000 such chargers in Europe by 2027, including 600 in the UK, at a cost of around €580,000 per station. According to Stella Li, BYD's vice president, extensive infrastructure is a prerequisite for the mass adoption of the new technology.

The latest model from the company's premium Denza brand can charge a battery to 70% in five minutes and to near full capacity in twelve minutes. BYD says the chargers will not strain the power grid, as they use on-site battery storage recharged during off-peak hours.

BYD is also expanding its footprint in the European market. Its EU market share rose from 0.8% to 1.9% in the first months of the year, and in the UK it has already overtaken several mainstream brands, including Renault and Volvo.

(max)