The Chinese manufacturer plans to build over 4,000 of these new charging stations across China. Chinese energy and automotive giant BYD has announced an ultra-fast charging system for electric vehicles that it claims is nearly as quick as filling a fuel tank.

China’s energy and auto giant BYD has announced an ultra fast EV charging system that it says is nearly as quick as a fill up at the pumps. BYD, China's largest EV maker, said Monday that its flash-chargers can provide a full charge for its latest EVs within five to eight minutes,

All of this is making Tesla a very unattractive prospect for investors so much so that The Guardian reports that short-sellers made $16 billion by betting against the EV maker. BYD could use this turbulent period to expand its market and outpace Tesla in sales and infrastructure, especially in Europe.