BYD stock briefly hit a record high following the introduction of a new smart-driving system which will be available in most of its models.

The integration of DeepSeek, the company said, would help improve self-driving technology and provide a more personalised experience for consumers. The AI firm made headlines last month when it unveiled a chatbot that can match its American competitors apparently at a fraction of the cost.

And what is more, they are packaging it in electric cars that are already dramatically cheaper than anything from Tesla. Take the BYD Seagull, a car priced at just $9,500. The Chinese automaker, which has overtaken Tesla in sales there,

China's BYD will equip its best-selling affordable series of models with advanced autonomous driving features similar to those in premium Tesla cars, it said on Monday, intensifying competition in the smart EV market.