(Yicai Global) Sept. 13 -- Qingdao TGOOD Electric Co. [SHE:300001], a Chinese new-energy vehicle product maker, has developed a way to charge electric buses in just eight minutes, which could make a big contribution to China's new-energy vehicle replacement plan.

"In the fuel-power age, Germany, the US and Japan had huge technological advantages," China Securities Journal reported on Sept. 12, quoting Yu Dexiang, chairman of TGOOD, "but as the world's largest producer and seller of new-energy automobiles, China is expected to use alternative energy vehicles to really push the technology."

The firm recently made breakthroughs in high-power charging in China.

Its latest product is a quick, convenient way to charge electric buses. The driver need not even step off the vehicle, he can simply push a button and the vehicle will charge in just eight minutes. The method is more reliable and secure than other charging methods.

The new charging system will be used in China's largest new-energy vehicle build-operate-transfer project, a charging network in Chengdu, in southwestern Sichuan province.

Popularization of the product could also see the charging time for electric cars slashed.

As petroleum-fueled cars go out of use, electric cars will hit a phase of unprecedented growth, and quick charging will be a key point in the industry. TGOOD's technology will help put it in a strong position going forward.

TGOOD currently has a charging network covering 249 cities in China, with nearly 180,000 charging piles and over 100,000 already in operation. Its daily charging volume is about 1.5 million kilowatts and a total charge volume to date of 300 million kilowatts. The company ranks first in the country in the construction and operation of electric charging piles, according to the China Electric Vehicle Charging Infrastructure Promotion Alliance.