China’s BYD Cemented Its Lead on Tesla in Five Minutes

中国比亚迪以“（闪充）五分钟”巩固对特斯拉的领先优势


The Chinese EV-maker shocked the world with a fast charger, while the US is still figuring out if EVs are too woke.

这家中国电动车制造商以闪电充电技术震撼全球，而美国仍在为"电动车是否过于政治正确"而争论不休。


Sometimes a chart is just a chart. Sometimes, when you’re looking at Tesla Inc. and BYD Co. Ltd. in early 2025, it’s a striking squiggly metaphor.

图表本无深意。但当我们审视2025年初特斯拉与比亚迪的走势对比时，那些蜿蜒曲线俨然成为时代隐喻。

Tesla, the biggest US electric vehicle maker, has shocked the world this year with its overt politicization and slumping sales and stock price. BYD, its great Chinese rival, just shocked the world by announcing its newest model can recharge in five minutes.

特斯拉，这家美国最大的电动车制造商，今年因政治化运营、销量股价双杀震惊世界。而其强大的中国竞争对手比亚迪刚刚通过宣布其最新车型能实现五分钟极速充电，再次改写行业认知。

The symbolism, capturing the lead that China has taken in EVs compared with a US still fighting with itself about the relative wokeness of EVs, could hardly be clearer.

此中深意再明显不过：当中国已经在电动汽车领域拔得头筹时，而美国仍在为意识形态争论裹足不前。

BYD’s boast of adding 400 kilometers (248 miles) of range to new vehicles sporting its Super-e Platform in as little as five minutes should be treated with the same caution advisable with any auto announcement.

对比亚迪宣称搭载其超级e平台的新车仅需五分钟即可补能400公里（248英里）的说法，我们需与其他任何汽车发布一样保持审慎态度（译者注：超级e平台是比亚迪2025年3月17日发布的汽车平台，推出了闪充电池、3万转电机和全新一代车规级碳化硅功率芯片，核心三电全维升级，刷新多项全球之最）。

Delivering peak power of 1 megawatt would be unprecedented for passenger EVs and raises questions about the longevity of the battery and the cost of building that level of charger, including associated upgrades to the grid.

实现1兆瓦峰值功率对乘用电动车而言前所未见，这引发对电池耐久性、充电桩建设成本及电网改造的多重质疑。

On the other hand, this is no start-up scouting for funding but rather the biggest EV maker in the world, including plug-in hybrids.

但值得注意的是，此次技术宣言并非来自初创企业的融资噱头，而是全球最大新能源车企（含插混车型）的郑重承诺。

Incredibly, first deliveries of BYD’s new vehicles capable of this “flash” charging are reportedly due as soon as April, which would count as flAsh Deployment.

令人难以置信的是，据报道，比亚迪首批支持这种“闪充”技术的新车型将在4月交付，堪称“闪电部署”。

Taken together, this would be game-changing — and not in a good way for Tesla or the rest of the US automakers.

综合来看，这将是颠覆性的技术突破——对特斯拉及其他美国车企而言绝非佳音。
原创翻译：龙腾网 https://www.ltaaa.cn 转载请注明出处


Charging an EV in a time comparable with that of visiting a gas-station would kick away an important obstacle to drivers making the switch from internal combustion engines.

实现“油电同速”的充电体验，将彻底扫除燃油车主转向电动车的重要障碍。

Not only does fast-charging dispense with having to think about how you will occupy yourself while the battery refills, it addresses range anxiety, too.

“闪充”不仅解决充电等待的"时间焦虑"，更直接化解"里程焦虑"。

If charging is as convenient as filling up, there’s even less reason to worry about getting stranded and, therefore, pay up for an oversized battery — which also has implications for critical minerals demand.

如果充电像加油一样方便，就更没有理由担心（因电量不足）被困路上，因此也不需要为过大的电池支付额外费用，这对关键矿产资源需求也将产生深远影响。

BYD says it will build 4,000 megawatt-capable chargers across China.

比亚迪还表示，未来将规划在全国各地建设4000多座“兆瓦闪充站”。

Delivering this, and quickly, would cement China’s lead in an EV industry that had its breakout moment in the Bay Area when Tesla launched the Model S sedan a little over a decade ago.

如果能快速兑现承诺，中国将巩固其在电动车领域的领导地位。正如十多年前特斯拉发布首款Model S轿车，曾为电动汽车行业带来了突破时刻。

That Musk felt compelled to stage a bizarre event at the White House last week with President Donald Trump, who is no fan of EVs, apparently buying a Model S to show support says a lot about where innovation can be found these days.

马斯克上周不得不与反对电动车的特朗普总统在白宫合演"支持秀"（为支持马斯克，特朗普买了辆红色特斯拉Model S），恰是创新格局变迁的最佳注脚。
原创翻译：龙腾网 https://www.ltaaa.cn 转载请注明出处


Musk’s politicking damages Tesla’s brand, but the underlying problem is its relatively old line-up of models even as competitors release new ones.

虽然马斯克的政治作秀损害了特斯拉品牌形象，但根本症结在于其车型矩阵老化。

While Tesla abandoned plans for a cheap EV, instead launching the Cybertruck priced at six figures, BYD and its competitors churned out an array of models going for less than $30,000.

当特斯拉放弃廉价车型计划，转产售价六位数的Cybertruck时（译者注：Cybertruck基础版美国售价约6万美元），而比亚迪及其竞争对手则推出了多款售价不到3万美元的车型。

As much as Tesla’s stock has fallen, it remains expensive at 84 times forward earnings, four times higher than BYD’s multiple.

尽管特斯拉股价暴跌，但其高达84倍的远期市盈率仍是比亚迪的四倍。

Tesla’s premium is now justified less by promises of growing EV sales and more by expansive, but elusive, visions of robotaxis and robots.

这种估值溢价不再源于电动车销售增长预期，而更多寄托于自动驾驶出租车和机器人等缥缈愿景。

BYD has also clouded that by releasing an advanced driver assistance system across most of its range as standard.

另外，比亚迪通过在全系标配高级驾驶辅助系统，使这一局面变得更加复杂。

Tesla’s, albeit more sophisticated technology, costs thousands of dollars extra for customers.

而特斯拉的辅助驾驶系统虽然技术尖端，却需要客户额外支付数千美元。

The challenge extends beyond Tesla, though. I wrote here that Big Auto as a whole faces a “made in China crisis,” and BYD’s announcement is a flashing warning of that.

危机不仅笼罩特斯拉。正如笔者此前所言，全球传统车企都正面临"中国制造危机"，比亚迪的此次发布可以被视为一个正在“闪烁”的警告。

Perfecting flash-charging could not only accelerate EV sales in BYD’s domestic market — where two out of every three EVs are sold already — but also provide another powerful vector for Chinese auto companies to compete in or dominate markets overseas.

闪电充电技术的不断完善，不仅将加速中国本土市场电动化进程（全球约三分之二的电动汽车在中国售出），更将为中国车企海外扩张或占据主导地位提供新利器。

The US has its tariffs to keep Chinese technology out, of course. Yet, these leave US drivers underserved with EVs now accounting for all the growth in global auto sales, benefiting from falling battery prices and offering unquestionable advantages in efficiency and emissions.

当然，美国虽筑起关税壁垒阻挡中国技术，但这也使得美国驾驶者在电动汽车领域无法得到充分服务。由于电池价格下降以及能效和排放方面的显著优势，电动汽车现在已经引领了全球汽车销量增长。

It is hard to see how better, more innovative EVs can be kept out forever.

很难想象美国怎么才能把更好、更具创新性的电动汽车永远拒之门外。

Moreover, Trump’s taste for tariffs is expansive and his threats against Canada and Mexico promise severe disruption for the likes of General Motors Co. and Ford Motor Co.

更严峻的是，特朗普的关税政策范围相当广泛，他对加墨征收关税将重创通用、福特等车企。

Protectionism for Detroit encourages its reliance on high-priced trucks in its home market and stifles the competitive dynamic required to innovate, all while potentially ripping up its carefully constructed North American supply chain.

底特律的保护主义鼓励了其在本土市场依赖本土高价皮卡，又抑制创新所需的竞争活力，同时也可能破坏其精心构建的北美供应链体系。

The US industry that defined mobility for much of the 20th century sees its chance of doing the same in the 21st slipping away — and fast.

曾定义20世纪出行方式的美国汽车业，正眼睁睁看着21世纪的领导权加速流逝——且这种流逝速度，可能比任何人预想的都要快。