Why China's car and tech giants threaten Tesla's self-driving future
Chinese EV makers are moving quickly to develop driver-assistance systems in a market where car buyers are demanding them at a faster pace than in other regions, analysts said. Their ability to do so at lower costs poses the biggest threat to Tesla's new autonomy-based business model.
BYD buyers can get an FSD-comparable version of God's Eye as a standard feature in cars priced at about $30,000 (R532,220). The cheapest FSD-equipped Tesla in China is a Model 3 selling for about $41,500 (R736,210).
According to an analysis by A2MAC1, a Paris-based tear-down firm that benchmarks components, the mid-level God's Eye version most comparable to Tesla's FSD runs on an Nvidia computing chip with data collected through 12 cameras, five radars, 12 ultrasonic sensors, and one lidar sensor, at a cost of $2,105 (R37,342). That compares to $2,360 (R41,863) for Tesla's FSD, which uses cameras without sensors and two AI chips, the firm estimated.
Cameras, radar and ultrasonic sensors are 40% cheaper in China than comparable devices in Europe and the US, A2MAC1 estimated. Lidar sensors cost about 20% less, the firm said. Sensor costs have fallen because China's EV boom created economies of scale, said A2MAC1 engineer Elena Zhelondz. The fierce competition also pushed carmakers and suppliers to accept lower profits on driver-assistance equipment, she said.
BYD's 22% gross margin will likely fall as it gives away God's Eye but it will benefit from a vehicle sales boost, said Chris McNally, head of global automotive and mobility research for advisory firm Evercore.
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