How China’s EV makers think they can outrun disastrous price wars
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China's EV market is shifting from price wars to competition based on technological advancements. BYD, a Shenzhen-based EV maker, recently unveiled a new battery technology capable of rapid charging, aiming to deliver better technology at competitive prices. The company plans to integrate this technology into models priced as low as 155,000 yuan (US$22,500) and build 20,000 charging stations this year. This shift signifies a move beyond addressing range anxiety and production costs, focusing instead on providing value for money through innovative features like fast charging, autonomous driving, and advanced in-car entertainment. The goal is to offer consumers better cars at lower prices, comparable to gasoline vehicles in refueling speed.
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AI-ExtractedBYD will apply the fast-charging technology to models priced as low as 155,000 yuan (US$22,500).
BYD unveiled a battery capable of charging from 10 to 70 per cent in five minutes.
BYD is building 20,000 charging stations this year.
The fast-charging technology unveiled today truly achieves refuelling speeds comparable to gasoline.
Electric cars can now recharge almost as quickly as petrol vehicles refuel, while being more cost-effective.
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