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China's BYD invests $14bn in smart car features that rival Tesla

Jan 17, 2024 - businessinsider.com
Chinese electric vehicle (EV) manufacturer BYD has introduced its AI-powered Xuanji smart car system, as part of a $14 billion investment in smart car technology. The system, which aims to enhance safety and comfort, will improve voice recognition and automated parking features. The company, which recently surpassed Tesla as the world's largest EV maker, also plans to incorporate other smart features into its EVs, including a hands-free driving feature similar to Tesla's Autopilot.

BYD's push into smart car technology comes after it overtook Tesla in EV production. Despite facing controversy over its own Autopilot feature, Tesla is also heavily investing in AI and smart car features. However, Tesla's CEO Elon Musk has suggested he may slow down AI development at the company. Meanwhile, BYD is reportedly planning to add a vehicle-mounted drone to its luxury SUV and has redesigned the steering wheel to make it detachable for gaming purposes.

Key takeaways:

  • Chinese EV maker BYD has unveiled its new AI-powered Xuanji smart car system, as part of a $14 billion investment in smart car features.
  • BYD, which has overtaken Tesla as the world's largest EV maker, is now focusing on AI and smart car features to compete with Elon Musk's company.
  • The company plans to integrate features like 'Navigate on Autopilot' into its EVs, and is also reportedly planning to add a vehicle-mounted drone to its luxury SUV.
  • CEO Elon Musk has hinted at slowing down AI development at Tesla, expressing discomfort at building AI products without controlling at least 25% of the automaker.
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