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China is winning the race for 5-minute EV charging
Charging is often cited as a main reason drivers aren't embracing EVs. In the US, charging times range from 20 minutes to 50 hours.
"It will change the entire customer experience," Ramesh Narasimhan, an executive vice president at the battery startup Nyobolt, told Business Insider. "China's battery industry is 10 years ahead of its Western rivals," Andy Palmer, a former Aston Martin and Nissan executive who's often called " The Godfather of EVs," told Business Insider. The International Energy Agency said the Chinese market accounted for about 60% of global EV registrations in 2023, and the country has rapidly built up its charging infrastructure to keep up with demand.
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