BYD, a Chinese automaker, is making waves in the electric vehicle market by offering affordable electric cars equipped with advanced autonomous driving features. This challenge to Tesla's dominance comes as BYD expands its 'God's Eye' intelligent driving system to a wider range of models, including its mass-market Seagull priced at just $9,500. BYD's move underscores China's rapid progress in electric vehicle and autonomous driving technology, potentially shifting global automotive dynamics.
Tesla ’s famously sky-high market valuation is based in part on the premise that it is not actually a car company at all, but an AI and robotics company. Selling a $25,000 electric car that can transition the world to a sustainable future is no longer the goal but rather creating AI software that can make cars drive themselves and robots that can replace human labor.
“God’s Eye was developed in-house by BYD and will equip the automaker’s mass-market models with features commonly only found on upscale EVs such as remote parking via smartphones and autonomous overtaking on roads,” the company said. China’s government has heavily prioritized the transition to electric vehicles with strong incentives, and BYD has managed to turn a profit on its electric vehicles, a feat that has heretofore only been accomplished by Tesla. The importance to China is clear: As the world continues transitioning to EVs, the likes of BYD have been able to push into markets including Europe and South America as Western brands lose share.
BYD started out making batteries for other companies. Being the most expensive and complicated part of an electric vehicle, BYD eventually realized it could enter the industry itself and manufacture cars of its own. It started with hybrid cars more than 15 years ago and is now one of the top automakers in China.
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