Xpeng, Geely shares fall after BYD offers free smart driving features

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The story "Xpeng, Geely shares fall after BYD offers free smart driving features" was covered 8 hours ago by The Star, a news publisher based in Malaysia.

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The Star 8h ago

Xpeng, Geely shares fall after BYD offers free smart driving features - The Star

Quick Summary:

SHANGHAI: Shares in Chinese automakers Xpeng and Geely Auto tumbled on Tuesday on worries they will struggle to compete against BYD's move to offer free smart driving features on almost all of its models.

BYD on Monday put on sale 21 models equipped with its "God's Eye" advanced driver-assistance system (ADAS) similar to that offered by rival Tesla, for no additional cost.

John Zeng, head of market forecast for China at London-based consultancy GlobalData, said Xpeng and many of its peers were under tremendous pressure.