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He was speaking at the company’s “Dream Day” event for the launch of the smart car system “Xuanji” held in Shenzhen on Tuesday.
According to the company, the system integrates several technologies developed by BYD in both vehicle intelligence and electrification, allowing the vehicle to recognize changes in its internal and external environment and adjust in real time to improve driving safety. It is said that comfort can be improved.
“The first half [of the game] “The second half is about electrification, and the second half is about intelligence,” Wang said, without disclosing the timing or details of the 100 billion yuan investment.
The company has more than 90,000 employees, including about 4,000 working on smart driving, including 1,000 algorithm and hardware engineers and 3,000 software engineers, Wang said.
EVs equipped with the latest digital technology are trending in China, as young drivers prioritize self-driving systems and digital cockpits when looking for a new car.
Intelligence is measured by the car’s digital add-ons through built-in features such as voice-activated controls, facial recognition, over-the-air software upgrades, phone compatibility, and self-parking.
“Almost all major EV manufacturers in China are conducting research and development to make their cars smarter in terms of self-driving and in-car entertainment,” said Cao Hua, a partner at Shanghai private equity firm Unity Asset Management. We are strengthening our team.” counts artificial intelligence (AI) and vehicle robots among its investments.
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Telecommunications and smartphone maker Huawei, another potential BYD rival, in November invited at least four traditional automakers to join a new smart car joint venture with state-owned Changan Automobile.
According to the automaker, more than 2.6 million BYD vehicles are already equipped with the L2 autonomous driving system. According to SAE, the global standards organization, L2 systems assist drivers, but require active monitoring.
In 2023, more than 57% of vehicles sold by BYD will be equipped with smart driving systems, and the company expects this percentage to further increase this year.
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BYD sold more than 3 million new energy vehicles, including pure EVs and plug-in hybrids, last year, an increase of 60% from the previous year, Wang said.
According to Wang, BYD plans to launch more than 10 high-end smart driving models this year equipped with LIDAR (light detection and ranging) sensors. He added that models priced above 200,000 yuan will have high-end intelligent driver assistance systems as an option, while models priced above 300,000 yuan will be equipped as standard.
“More auto companies are accelerating the deployment of urban NOA.” [navigation on autopilot]the trend in automotive intelligence is becoming more and more obvious,” East Money Securities analyst Zhou Xuhui said in a report on Tuesday.
“We believe that in the future, ‘intelligence’ will become an important criterion for measuring the core competitiveness of car companies.”
Additional reporting by Daniel Ren
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