Reported about 9 hours ago
Shares of Chinese automakers Xpeng and Geely plummeted after BYD announced that it would offer free smart driving features across nearly all its vehicle models, raising concerns about increased competition in the market. Xpeng's stock fell by 8.4% and Geely's by 11.1%, marking their largest single-day declines since October 2024. Meanwhile, BYD, which has introduced its advanced driver-assistance system without additional charges, saw its shares rise by 4.5%. Analysts suggest this move could ignite a price war among electric vehicle manufacturers.
Source: YAHOO