Tesla TSLA shares are slipping again this morning after rival BYD 
BYDDY announced a new charging technology that it claims is miles ahead of the U.S. electric vehicle maker.
BYD says its “Super e-Platform” can charge its EVs for up to 400 kilometers in just five minutes. In comparison, Tesla vehicles get a 270-kilometer range after a 15-minute charge.
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The announcement is adding to the continued selloff in Tesla stock that’s already lost more than 45% since mid-January.
Why BYD News Is a Headwind for Tesla Stock
BYD’s new charging technology could make its EVs more appealing to global consumers. This comes as Tesla is grappling with a slowdown in all three of its key markets: China, the European Union, and the United States.
In February, the EV maker’s sales were down 6% in its homeland, 46% in Europe, and an
