TMTPOST  -- Tesla faced renewed pressure on Tuesday, with its stock closing down over 5% after several Chinese competitors announced updates, signaling intensifying competition for the EV giant in the mainland market. This decline follows a 5% drop at the start of the week, leaving Tesla shares more than 53% below their December highs. BYD, China's leading automaker, revealed a major breakthrough in battery technology on Tuesday, driving its Hong Kong-listed shares to a record high. According to BYD Chairman and Founder Wang Chuanfu, the company's new battery and charging system, named the Super e-Platform, can achieve peak charging speeds of 1,000 kW, delivering approximately 250 miles of range in just five minutes. In comparison, Tesla's fastest superchargers top out at 250 kW, only a quarter of BYD's claimed capability. Meanwhile, Xiaomi announced plans to increase production targets for its first electric vehicle, the SU7. CEO Lei Jun stated on Weibo that the production goal will rise from 300,000 to 350,000 units. The SU7, which blends the aesthetics of a Porsche Taycan with the performance of a McLaren supercar, features a tech-forward interior powered by HyperOS, a customized version of Android. Its striking design and advanced technology have resonated strongly with Chinese consumers, who increasingly view their cars as extensions of their digital lifestyles. Additionally, XPeng unveiled updates to its latest electric models, further heating up competition in China's EV market. These developments underscore the fierce competition in China's EV sector, with Tesla facing growing pressure in this critical market. As domestic brands continue to innovate and expand, Tesla must accelerate its efforts to maintain its competitive edge.