BYD Beats Tesla with Five-Minute EV Battery

BYD unveiled a new battery and charging system that can charge almost as fast as it takes to refuel a regular car. Tesla’s Chinese rival will start selling vehicles with the new technology next month. The stock climbed as much as 6% at the open of trading in Hong Kong Tuesday, lifting its market value to almost $162 billion — more than Ford Motor, General Motors and Volkswagen combined. Danny Lee reports. (Source: Bloomberg)