BYD could give EV market its DeepSeek moment
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Illustration: Sarah Grillo/Axios
Chinese electric vehicle maker BYD on Monday announced new charging technology that it claims could "fill up" cars in just five minutes, comparable to gas station visits.
Why it matters: This could be a sort of DeepSeek moment for electric vehicles, in terms of a Chinese company lowering adoption barriers by developing much more efficient tech.
- It also could revive deflated U.S. investor interest in the EV sector, particularly among venture capitalists.
The big picture: Range anxiety is a key impediment to EV purchases, even if America got that broader network of charging stations that the Trump administration is now trying to scuttle.
- BYD's breakthrough could convince entrepreneurs to launch new charging startups, and maybe even a few new OEMs. Remember, there's got to be a match between the voltage flowing out of the plug and what the EV battery can accept.
- Yes, it would be time-consuming and expensive. Particularly since BYD itself could face political resistance to exporting its tech to the U.S., but it's the sort of bet whose odds have just moved significantly.
The big picture: BYD says its new battery and charging system will be used in its next-gen vehicles, and that it plans to build more than 4,000 ultra-fast chargers across China.
- But it was light on specifics, such as the specific battery chemistry or size. So this will be a trust but verify situation, since the history of batteries is full of busted boasts.
Shameless plug: Axios is launching a weekly newsletter on the auto industry, written by transportation correspondent Joann Muller. Get it here.
The bottom line: If the DeepSeek analogy isn't working for you, try out e-commerce.
- VCs lost tons of money in such startups that they backed in the late 1990s. Not because the founders were faulty, but because internet connectivity wasn't yet scaled for mass adoption. In many cases, it was the next cohort of e-commerce startups that became household names.
- The same might be true for EV startups, with BYD's charging tech playing the role of home broadband. Sometimes the revolution just takes a bit longer than expected.
