BYD, the world’s largest electric car maker, announced its new Xuanji smart car system on Tuesday, aiming to enhance its competitiveness in advanced technologies such as automated parking and autonomous driving.

The Xuanji system, which integrates the AI Large Model with the largest data foundation in the industry, can perceive changes inside and outside the vehicle in milliseconds and adapt to different scenarios, according to the company’s statement.

Wang Chuanfu, chairman and president of BYD, said at the company’s Dream Day event that the Xuanji system would accelerate the transformation of the auto industry and bring more value to customers.

BYD, which outperformed Tesla in global EV sales in the fourth quarter of 2023, also revealed its plan to invest 5 billion yuan ($701.8 million) to build the world’s first all-terrain professional test drive sites in various cities in China.

The company said it had obtained the first conditional testing license for L3 autonomous driving on high-speed roads in China in July 2023, which allows the driver to delegate some driving tasks to the system under certain conditions.

However, BYD’s Shenzhen-listed shares fell more than 2% on Wednesday amid a broader slump in the Chinese stock market, as the EV sector faces a price war and fierce competition from rivals such as Nio, Xpeng and Li Auto.

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