BYD is also planning to build over 4,000 charging stations across China for its upgraded EVs. However, the company has not given a specific timeline for the rollout. The charging speed of BYD's new platform would be faster than that of Tesla's Superchargers which can add up to 275km range in 15 minutes.

BYD shares jumped on Tuesday after the company announced a new technology that allows electric cars to be charged at a far faster rate than what rivals offer.

BYD Co. unveiled a new system for electric cars that the Chinese automaker says will allow them to charge almost as fast as it takes a regular car to refuel.