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Electric & new energy vehicles
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China EVs: BYD plans US$14 billion investment to develop smart cars, seen as the next battlefield

  • The company launched its smart car system Xuanji at its Dream Day event in Shenzhen on Tuesday
  • BYD will launch more than 10 high-end smart driving models equipped with lidar sensors, CEO Wang Chuanfu says

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BYD yesterday showed off its intelligent parking features at its Dream Day event in Shenzhen on Tuesday. Photo: Handout
Yujie Xue
BYD, the world’s largest electric vehicle (EV) maker, will invest 100 billion yuan (US$14 billion) in smart cars, as the company expects intelligent new energy vehicles to be the next battlefield for the industry, founder and CEO Wang Chuanfu said.

He was speaking at the company’s Dream Day event in Shenzhen on Tuesday to launch its smart car system, Xuanji.

The system integrates several technologies BYD has developed in both vehicle intelligence and electrification, including cloud-based artificial intelligence, 5G network connectivity, smart driving and smart-cockpit features, enabling a car to perceive changes in the internal and external environment and adjust in real time to enhance driving safety and comfort, according to the company.

“The first half [of the game] is about electrification, the second half is about intelligence,” Wang said, without giving a time frame for or more details about what innovations the 100 billion yuan investment is expected to yield.

BYD CEO Wang Chuanfu at the launch of its smart car system Xuanji at its Dream Day event in Shenzhen on Tuesday. Photo: Handout
BYD CEO Wang Chuanfu at the launch of its smart car system Xuanji at its Dream Day event in Shenzhen on Tuesday. Photo: Handout
Shenzhen-headquartered BYD, which surpassed Tesla to become the biggest maker of pure battery-powered EVs in last year’s fourth quarter, is now looking to intelligent vehicles as it seeks to catch up with its competitors in features such as autonomous driving and voice recognition.
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