Hyperdrive

BYD Plans $14 Billion Investment in Smarter Car Features

EV maker will introduce system called Navigation on Autopilot
The company didn’t specify a time frame for the investment

The Yangwang U8 demonstrating its collision control system at the BYD headquarters in Shenzhen.Photographer: Qilai Shen/Bloomberg

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By Linda Lew

January 16, 2024 at 1:00 PM UTC

Updated on

January 17, 2024 at 8:34 AM UTC

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BYD Co., the world’s largest maker of electric vehicles, will invest 100 billion yuan ($14 billion) to develop smart-car features, its founder and chief executive officer said Tuesday.

Wang Chuanfu didn’t give a specific time frame for the investment or more details. The move comes as the Chinese carmaker tries to narrow the gap with rivals making vehicles with driver-assistance systems and other advanced technology.