Brief on the Topic

BYD, a global electric vehicle (EV) manufacturer, has introduced Xuanji. It is an AI-operated smart car system that focuses on road safety and comfort. Xuanji uses a big AI model to process a considerable amount of data in real-time. As a result, the Integrated Vehicle Intelligence system in the car constantly adapts to changes inside and outside the vehicle.

Launch Event Details

Xuanji was unveiled at BYD’s Dream Day event. The chairman and president of the company, Wang Chuanfu, was present at the event. He highlighted that Xuanji could transform the automobile industry rapidly. The system has features like voice recognition and automated parking that elevate the driving experience. By investing in this technology, BYD has joined the race towards smart car technologies with other major players like Tesla, Nio, Xpeng, and Huawei.

BYD’s Future Plans and Investment

Besides launching Xuanji, BYD announced its plan to invest 5 billion Chinese yuan (roughly $701.8 million) in creating professional test drive sites across China. These will be the world’s first all-terrain test sites. The announcement came after BYD became the first company in China to receive a conditional testing license for L3 autonomous driving on high-speed roads in Shenzhen last year.

Chinese EV Market Competition

Despite a slight decrease in BYD’s shares due to a broad decline in the Chinese stock market, BYD remains competitive. The company outdid Tesla in EV sales in the previous quarter. The competition in the Chinese EV market continues to be fierce with companies like Nio, Xpeng, and Li Auto competing to become the market leaders. The race to the top in the EV market promises to be intense and exciting.