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BUSINESS
Experts are of the view that BYD’s competitive pricing could make Tesla, and others ponder how they integrate high-scale technology in a market with competitive prices. BYD’s recent action could strengthen China’s aggressive competitive prices in the EV sector.
Even before Elon Musk’s Tesla launched its Model Y cars in India, Chinese EV manufacturer BYD surprised the world by introducing its most advanced driving assistance systems, called “God’s Eye,” which it has brought in its low-budget models for as low as 69,800 yuan (around USD 9,555). That means the Chinese EV giant has rolled out the new system in all its entry-level cars. Earlier, only more than USD 30,000 vehicles were equipped with this smart driving technology, boosting the tech in the entry-level vehicles.
BYD had earlier announced in a live-streamed event that as many as 21 of its models, which also include the budget-friendly Seagull hatchback, starting from 69,800 yuan (USD 9,550), will be equipped with the intelligent driving upgrade. This reflects BYD’s strategy of modern and advanced tech with competitive prices, which has made it a leader in the global EV race.
According to analysts, BYD’s recent action could strengthen China’s aggressive competitive prices in the EV sector, as automakers are rapidly progressing towards gaining maximum in the EV market. BYD’s founder, Wang Chuanfu, said, “Autonomous driving is no longer a remote rarity, it’s a necessary tool.” A Bloomberg report says. China’s automotive sector, which is the largest in the world, sold around 11 million electric and hybrid vehicle in 2024, which was a 40% increase from 2023. BYD’s sales make up approximately 4.2 million units of these sales.
BYD vs Tesla
Tesla is still struggling to introduce its latest models in China, not only largest in consumer base but also most advanced in technology. Experts are of the view that BYD’s competitive pricing could make Tesla, and others ponder how they integrate high-scale technology in a market with competitive prices. The company’s quarterly revenue surpassed that of Tesla for the first time in the third quarter, highlighting its growing dominance in the industry.
In another move to strengthen its current technology, BYD said that it will integrate DeepSeek, Chinese AI chatbot, into upcoming vehicles. This could heighten vehicle tech through integration of smarter voice assistance and more intelligent car features, as BYD continues to turn the EV sector into a tech-innovative sector.