BYD, a Chinese automaker that started selling cars in India, is better than Tesla, the world’s largest electric car manufacturer in the stock market.
BYD stock, or building your dream, has risen nearly 20.40% this year from CNY 282.66 ( £3,360) CNY 340.30 at the end of 2024 ( £4,045.80) At the highest level ever recently hit.
Meanwhile, the company owned by Elon Musk has surpassed 13% this year, from $403.84 so far. £35,085) $350.73 at the end of 2024 ( £30,471) Monday.
Rally in BYD shares are partially driven by the recent launch of a new driver-assisted software called “God’s Eye.”
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What is the “eye of God”?
BYD has launched a pre-automated driving system called “God’s Eye.” The company has also announced that software will be available across the entire model lineup, including $9,600 ($9,600) £8.34 lakh) Seagull budget hatchback.
The driving system was developed in-house by BYD and will feature the vehicle with features that are only available in high-end EVS. These include remote parking via smartphones and autonomous overtaking on the road.
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What do analysts say?
Faye Gao, Asian Equity Portfolio Manager at Lombard Odier Investment Managers, told Bloomberg:
Installing the God Eye System of the Autonomous Driving Market (filling void) to make cars in the autonomous driving market price less than $20,000 (approx. £17.40 lakh), S&P Global Mobility Analyst Lu Daokuan told the Financial Times.
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Byd vs Tesla
Chinese companies had not reached Tesla’s biggest seller of pure EVs worldwide with less than 25,000 units in 2024. However, according to Bloomberg, the company is set to surpass Tesla in terms of annual revenue, as it sold more than $100 billion for the first time in 2024.
Despite stock market rally, BYD’s stocks are still trading at about 18 times forward, below the five-year average and less than a fifth of Tesla’s.
