Tesla’s market value is partly based on its transition from being a car company to an AI and robotics firm. However, companies like Waymo and Chinese automaker BYD are now racing to develop autonomous driving technology.
BYD has announced it will add its “God’s Eye” intelligent driving features to the affordable BYD Seagull electric car, priced at $9,500. The technology, developed in-house by BYD, offers features such as remote parking and autonomous overtaking.
In contrast, Tesla’s Full-Self Driving (FSD) technology is still awaiting approval in China due to strict regulations on data export. Instead, Tesla trains its FSD on street-view images from the web.
BYD has managed to turn a profit on electric vehicles, unlike Tesla, which relies heavily on government incentives and subsidies. The Chinese company’s success has allowed it to expand into European markets and promote itself as creating jobs and contributing to local economies.
The US has criticized China for subsidizing its automotive industry, but BYD has become self-sustainable by developing its own technology. Elon Musk’s recent focus on politics in Washington D.C. may be affecting Tesla sales, which have fallen dramatically in key markets like California and Germany.
Source: https://gizmodo.com/chinas-byd-adding-high-level-self-driving-to-its-budget-10k-electric-car-2000561821