The Chinese carmaker’s shares have jumped as investors speculated it could outdo Elon Musk’s Tesla

• BYD says new charging system could be as quick as filling up a tank

The leading Chinese electric carmaker BYD has surged in value after it said its latest batteries charge fast enough to add 400km (249 miles) of range in only five minutes.

BYD’s Hong Kong-listed shares gained 4.1% on Monday to hit a record high of 408.80 Hong Kong dollars ($40.58), as investors bet that the company could strengthen its already commanding market position.