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Shares of Chinese EV makers Xpeng (NYSE:XPEV) and Geely Auto (HK:0175) plummeted on Tuesday, down 5.9% and 7.2%, respectively, following BYD’s (SZ:002594) game-changing move to offer advanced driver-assistance systems (ADAS) for free across nearly all models. Meanwhile, BYD’s Hong Kong-listed stock hit a record high, rising 0.9%.
BYD’s “God’s Eye” ADAS, comparable to Tesla’s (NASDAQ:TSLA) Full Self-Driving (FSD), was previously available only in vehicles priced above $30,000. Now, the system comes standard on 21 models, including the Seagull, priced at just $9,555. Analysts warn this aggressive pricing could ignite another price war in China’s already competitive EV market, mirroring disruptions in AI caused by DeepSeek’s budget-friendly offerings.
Tesla, which offers similar features starting at $32,000 in China, charges $8,000 in the U.S. for its FSD software or $99 monthly. However, FSD has yet to launch in China.
Xpeng has yet to comment but referred to a statement by CEO He Xiaopeng, who welcomed BYD’s move, calling it a major step toward global smart driving adoption.
Nomura analysts declared this the “era of smart driving popularization,” while John Zeng of GlobalData noted the immense pressure on Xpeng and its peers, saying it’s unlikely they can match BYD’s affordability. Leapmotor (HK:9863), a Stellantis (NYSE:STLA) partner, was quick to respond, unveiling an EV with smart driving features under 150,000 yuan.
Huawei’s Richard Yu warned that integrating smart driving technology requires more than just assembling features, subtly critiquing BYD’s approach.
As competition heats up, BYD’s strategic move could reshape China’s EV market, forcing rivals to rethink pricing and technology strategies.
