China's BYD has unveiled a megawatt charging system that it says can charge an EV as quickly as filling up a fuel tank, and said it will build a network across China, igniting a new super charging race.

Shares of BYD, the world’s largest electric-vehicle maker by deliveries, rose on Tuesday after the Chinese company said it’s rolling out a system that will recharge a vehicle in about the same time as it takes for people to fill up a car with gasoline.

BYD’s shares rose in Hong Kong after the Chinese electric-vehicle company unveiled its new fast-charging technology and announced an employee share incentive plan.Shares rose as much as 6.0% to a record 408.