BYD To invest 100 Billion Yuan in Smart Car Technology Push
BYD To Invest 100 Billion Yuan To Improve Smart Car Technology
Industry News

BYD Co, currently the largest manufacturer of electric vehicles globally, has announced that it will invest a sum of 100 billion yuan (equivalent to $14 billion) for the development of smart car technology. This move is aimed at narrowing the gap between BYD and its competitors who offer vehicles with advanced technology and driver-assistance systems.

Advanced driver-assistance systems are increasingly a major selling point for consumers in China and beyond. Smart cars can be placed on autopilot on some highways and cities, as well as park themselves. During its presentation at an event in Shenzhen, BYD discussed potential non-driving features to enhance drivers’ experiences.

BYD plans to introduce a new feature called Navigation on Autopilot, which will allow drivers to take their hands off the wheel and feet off the pedals in certain scenarios. However, the system requires drivers to touch the steering wheel every 15 seconds, and it will only be available in cars priced at more than 300,000 yuan.

Yangwang U8 priced from $160,000 USD - Heroic Stance

The company did not reveal any specific timeframe or additional details. The move comes as the Chinese carmaker tries to narrow the gap with rivals making vehicles with driver-assistance systems and other advanced technology.

The Yangwang U8, which is valued at around 1 million yuan ($140,000 USD), may come with a vehicle-mounted drone and its own housing case. The steering wheel has been redesigned so that it can detach from the control column. This allows drivers to use it, along with the car’s pedals, to play video games like car racing.

BYD is introducing palm-print motion sensor technology in some of its higher-priced models, which will allow drivers to open car doors simply by waving at them.

The company has also provided more details on its expansion plans, confirming that its Denza brand, in which Mercedes-Benz Group AG has a 10% stake, will launch in Europe in the fourth quarter. In addition, BYD intends to export its Yangwang and Fang Cheng Bao brands.

BYD To invest 100 Billion Yuan in Smart Car Technology Push
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