China’s BYD claims 5-minute electric electric battery charging provides a range of 250 miles

Chinese automaker Byd said it has developed technology that can accelerate electric vehicle battery charge to 1,000 kWh, providing enough energy for nearly 250 miles of driving.

The company’s CEO Wang Chuanfu announced a potential battery breakthrough on the livestream and sent the company’s stock soaring. The charging technology appears to be twice as fast as Tesla currently offers at the supercharged station. Bider said it plans to deploy paid infrastructure technology in China. The battery that can be charged soon will initially be built into the company, a sedan and two new cars in the SUV.

The company did not disclose how long it will be built or when the vehicles will be available.

Byd did not immediately respond to a request for comment about the technology.