The Chinese automaker backed by Warren Buffett's Berkshire Hathaway announced it's rolling out new autonomous driving capabilities on all models
The company announced that its “God’s Eye” feature, which includes capabilities like remote parking via smartphones and autonomous overtaking on roads, will be available — for free — in all BYD vehicles, including budget cars. The announcement sent BYD’s stock up 4% while Tesla’s sank 2%.
BYD’s “God’s Eye” feature was first rolled out in 2023 but was only available in more upscale models.
BYD founder and chairman Wang Chaunfu couched the move as a way to make driving safety technology available to the masses.
“We are starting an era where autonomous driving is for everyone,” said founder Chuanfu at a live-streamed event in BYD’s Shenzhen headquarters on Monday. BYD’s highly popular Seagull hatchback, for example, retails for less than $10,000 USD and will now include the God’s Eye feature.
Experts predicted that its availability to the masses would upend the market, but this shouldn’t have come as a surprise.
“This marks the continued commoditization of ADAS (advanced driver-assistance systems) for autonomous driving technology,” said Teymour Bourial, founding partner of sustainability consultancy ExoPeak. “Given how affordable the technology has become, it was just a matter of time before this happened.”
Bourial added that BYD’s rollout could push Tesla into re-thinking its full self-driving (FSD) model. “It will become difficult for consumers to justify paying extra for a service that competitors offer for free,” said Bourial.
Still, he predicted less of an impact, at least right away, in the U.S. and Europe. “Chinese automakers still represent a relatively small market share, and will likely face expansion challenges in the face of growing protectionism,” he said.
Jason Castriota, CEO of automotive design firm Castriota Design, also was not surprised by the move, but predicted it will put a jolt in the segment.
“This will send shockwaves through the market, but it is important to recognize that this will play out differently in each market,” Castriota said, adding that, at the moment, Tesla doesn’t have much to fear.
“Despite losing a chunk of the market, Tesla still holds nearly 50 percent of all EV sales in the USA,” he said, adding that with many U.S. automakers pausing or slowing EV plans, Tesla should have time to solidify their position.
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