Elon Musk has explained it several times: Autopilot is the very essence of Tesla, “we're playing everything on self-driving cars”. He had never said it. The Chinese have taken him at his word and now aim to destroy him in his own field: BYD – after having overtaken Tesla in global sales – will now invest something like 14 billion dollars in the development of autonomous driving and artificial intelligence.
To be clear, we are talking about a figure that is a billion dollars more than what Microsoft invested in OpenAi, which includes the popular ChatGPT. An abnormal figure.
Among other things, BYD is already well ahead on intelligent car features given that “autopilot navigation” is already available on the Denza N7 and given that it has just presented its new Xuanji system based on artificial intelligence which promises wonders for improve voice recognition and automated parking features.
We will see. Meanwhile, “Moneytalks” as AC/DC sang: 100 billion yuan (14 billion dollars) is a true declaration of war. Who will win? Analysts have no doubts: BYD has already won. And it is no coincidence that Warren Buffett, through his Berkshire Hathaway, bought 225 million shares of BYD Company listed on the Hong Kong Stock Exchange in 2008, making him one of the main shareholders.
Of course, now Buffet has started to gradually sell his shareholding, going from 20.49% to 18.87% on August 30, 2022, decreasing more and more until reaching the last cut, when he reduced his shareholding to 9%. But do you know how many shares Buffet owns in Tesla? Zero.
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