Feb 11, 2025 11:56 AM IST
Chinese automaker BYD recently launched a new feature called ‘God’s Eye’ and said it’ll be available in all new vehicles launched by the company.
BYD, a Chinese automaker that has begun selling cars in India, has outperformed the world’s largest electric vehicle-maker Tesla on the stock market.
The shares of BYD, or Build Your Dreams, have risen nearly 20.40% so far this year from CNY 282.66 ( ₹3,360) at the close of 2024 to CNY 340.30 ( ₹4,045.80) at an all-time high level that it hit recently.
On the other hand, the Elon Musk-owned company’s shares have fallen over 13% so far this year, from $403.84 ( ₹35,085) in 2024-end to $350.73 ( ₹30,471) on Monday.
The rally in BYD shares is partly being driven by the company’s recent launch of a new driver-assistance software called ‘God’s Eye’.
Also read: ‘Swindler, Scam Altman’: Elon Musk after Sam Altman mocks his $97.4 billion bid for OpenAI
What is ‘God’s Eye’?
BYD has launched its advance self-driving system called ‘God’s Eye’. The company also announced that it will be making the software available on its entire model line-up, including the $9,600 ( ₹8.34 lakh) Seagull budget hatchback.
The driving system was developed in-house by BYD and will equip cars with features that were so far only available on upscale EVs. These include remote parking via smartphones and autonomous overtaking on roads.
Also read: Elon Musk-led group offers $97.4 billion to gain control of Sam Altman’s OpenAI
What do analysts say?
Faye Gao, Asian equities portfolio manager at Lombard Odier Investment Managers, told Bloomberg, “BYD is essentially providing a cost-efficient solution and accelerating the commoditisation of basic self-driving technology.”
Installation of the God’s Eye system “filled the void” in the self-driving market for vehicles prices below $20,000 (about ₹17.40 lakh) , S&P Global Mobility analyst Lu Daokuan told Financial Times.
Also read: Keen to have manufacturing in India, visa issue not affecting operations: BYD
BYD vs Tesla
The Chinese firm had fell short of surpassing Tesla as the biggest seller of pure EVs globally in 2024 by less than 25,000 units. However, as per Bloomberg, the company is set to outperform Tesla in terms of annual revenue as it is set to exceed $100 billion in sales for the first time in 2024.
Despite the stock market rally, BYD’s shares still trade at about 18 times forward multiples, below their five-year average and less than a fifth of Tesla’s.
Recommended Topics
