China's BYD steps up assisted-driving push

BEIJING, May 28 (Reuters) - China's ‌BYD announced ​new ​service packages aimed at encouraging more drivers to use its 'God's Eye' assisted-driving system on Thursday.

The move ‌marks the latest push by the world's largest EV ⁠maker to build trust in assisted-driving and boost adoption of its ‌three-tier God's Eye system, as ‌price pressure mounts, domestic demand slows and profits fall.

Chairman Wang Chuanfu said the carmaker aimed to achieve "zero traffic accidents" ​through intelligent-driving technology.

BYD said it would fully cover compensation and repairs for any accidents arising when drivers use ⁠its City Navigation function, without affecting their insurance premiums the following year, in ​one of its pledges to deploy assisted driving systems more widely.

BYD's quarterly profit recently posted its ​steepest decline since 2020, even as ‌the company rolls out new technology. Its major battery upgrade, the first in six years, ⁠has failed to reverse the slowdown in domestic sales.

On Thursday, the company also showed off a new self-developed 4-nanometer chip that supports ⁠L3 and L4 autonomous driving.

Global rival Tesla is still awaiting full regulatory ​approval to deploy its most advanced driver-assistance features in China, while domestic peers such as Xpeng, Nio and Li Auto have accelerated ‌the roll-out of AI-based systems that use large driving models and real-world scenario training.

Wang said ‌its budget models could be upgraded to God's Eye B ⁠smart-driving capability at a price ‌of 12,000 yuan ($1,770.02).

($1 = ​6.7796 Chinese yuan renminbi)

(Reporting by Zhang Yan, Ju-min Park, Qiaoyi Li; Editing by Joe Bavier and Elaine ‌Hardcastle)

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