China’s CATL says it has overtaken BYD on 5-minute EV battery charging time

News Snapshot:

CATL has unveiled upgraded battery cells it claims can offer faster charging for electric vehicles than its rival BYD, putting the two Chinese groups ahead of competitors in the race to overcome a major barrier to the shift away from petrol vehicles. The world’s biggest electric vehicle battery maker said on Monday that a new version of its flagship Shenxing battery cell could offer a 520km range from just five minutes of charging time. Last month, BYD shocked the industry by unveiling a charging system that could add about 470km in range to its batteries in about the same time....