BYD Cuts Smart EV Price to Sub $10K
BYD has introduced advanced autonomous driving features on most of its models, including ones as cheap as $9,555, significantly undercutting competitors like Tesla. The company’s proprietary “God’s Eye” driver-assistance system is now standard in all models above 100,000 yuan ($13,688) and in three lower-priced models, the cheapest being the Seagull at 69,800 yuan.
Previously, such features were only available in BYD’s models priced above $30,000, whereas Tesla’s similar offerings start at $32,000 in China. Analysts suggest this move could trigger a new price war in the EV market, pressuring competitors like Xpeng and Leapmotor, who may struggle to match BYD’s affordability.
BYD’s strategy follows its history of aggressive price cuts and is seen as a response to plateauing sales, which hit 4 million units last year. The company aims to make smart driving a standard feature, comparing its necessity to seatbelts and airbags. Additionally, BYD has integrated DeepSeek’s AI into its smart car system, accelerating China’s autonomous driving technology development.
Since news of the initiative leaked, BYD’s shares have surged 16%, reflecting expectations that this move could further reshape China’s highly competitive auto market.