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.Most Read from BloombergICE Eyes Massive California Tent Facility Amid Space ConstraintsHow Britain’s Most Bike-Friendly New Town Got BuiltThe Dark Prophet of Car-Clogged CitiesWashington,

BYD on Monday unveiled a new platform for electric vehicles (EVs) that it said could charge EVs as quickly as it takes to pump gas and announced for the first time that it would build a charging network across China.