China's BYD will equip its best-selling affordable series of models with advanced autonomous driving features similar to those in premium Tesla (TSLA.O) cars, it said on Monday, intensifying competition in the smart EV market.
BYD will equip all of its branded models priced above 100,000 yuan ($13,688) with the company's proprietary "God's Eye" advanced driver-assistance system, BYD founder Wang Chuanfu told an event livestreamed from Shenzhen.
The system will also be installed in three models priced below 100,000 yuan, including the Seal 05 DM-i plug-in hybrid from 89,800 yuan, he said, adding that BYD also plans to launch sales of 21 new models equipped with the system, without specifying a timeline.
"The biggest obstacle to smart driving is the high price. At present, models equipped with smart driving often cost more than 200,000 yuan," he said.
"I believe that good technology should be accessible to everyone. The popularization of smart driving must take care of everyone, so that everyone can enjoy the safety, comfort and convenience brought by technology."
BYD currently offers its God's Eye system in models priced from $30,000, while Tesla has these features available in China in its EVs priced from $32,000.
By bringing smart driving features to BYD's more affordable, best-selling Dynasty and Ocean series of models, sales of which totalled nearly 4 million vehicles in 2024, the company could cut hardware and software costs through economies of scale.
BYD is also joining other Chinese EV brands such as SAIC-General Motors-Wuling's Baojun, Xpeng (9868.HK)'s MONA and Stellantis' (STLAM.MI) partner Leapmotor (9863.HK) to roll out affordable EVs that can navigate highway traffic autonomously under human drivers' supervision.
The trend would accelerate adoption of technologies that are increasingly embedded with artificial intelligence, which is at the core of the technology competition between China and the U.S.
Shares in BYD have climbed more than 16% since Feb. 6, when Chinese media reported that the company planned to hold an event to discuss its smart driving strategy.
($1 = 7.3055 Chinese yuan renminbi)
