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BYD Company (OTC:BYDDY) has reportedly recruited former Baidu Inc (NASDAQ:BIDU) executive to advance its development of driver assistance technology.
Zhou Peng will now lead BYD’s efforts in creating end-to-end large model planning and control algorithms, CnEVPost reported, citing local media.
Zhou Peng brings extensive experience from Baidu’s smart driving and fusion business unit, as well as from leading the smart driving system at Baidu-backed EV maker Jiyue.
His expertise is expected to be crucial in building the technical framework and leading the team to develop high-quality, data-driven end-to-end algorithms.
BYD aims to enhance its self-driving technology through two approaches: developing in-house technology and using vendor solutions to stay ahead of safety standards.
Currently, BYD’s high-level smart driving technology is featured in high-end models like the Yangwang U8 and Denza N7, with plans to extend these features to lower-priced models such as the Han and Song L.
Despite its rapid growth as the world’s largest new energy vehicle maker, BYD has been relatively conservative in the smart driving space, the report further noted.
Also Read: Tesla Rival BYD’s Thai Distributor Faces Ongoing Investigation Over EV Discounts
However, the company has intensified its efforts, launching the Xuanji Architecture in January as the foundation of its vehicle intelligence.
Xuanji Architecture is a sophisticated structure that includes a central brain, cloud-based AI, vehicle-based AI, 5G network, satellite network, and various chains such as sensing, control, data, and mechanical.
BYD plans to invest RMB 100 billion in intelligence, with a current team of over 4,000 members focused on high-level intelligent driving systems.
The company is reportedly poised to significantly increase its market share in the battery electric vehicle (BEV) sector in 2024.
BYD reported a 21% increase in electric vehicle sales for the second quarter, selling 426,039 EVs from April to June.
Price Action: BYDDY shares are trading higher by 1.42% at $62.05 at last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
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