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.

Shares in Chinese automaker BYD jumped on Tuesday after it unveiled plans to unroll advanced self-driving technology on nearly all its cars, including budget models priced below $10,000. The company also said it would integrate AI startup Deepseek's software into its cars,

The new BYD models will include self-driving features, with the DeepSeek AI model powering its most advanced version of the driver assistance tech.

Tesla rival will equip hatchback on sale for less than $10,000 with features usually found only on upscale vehicles

Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) fell 5.2% in the afternoon session after Chinese electric vehicle manufacturer, BYD, unveiled "DiPilot," an assisted driving system (like a smart co-pilot or an extra pair of eyes while driving) that will integrate AI features from DeepSeek (Chinese AI Startup).

Tesla (NASDAQ: TSLA) stock has been in freefall, and that accelerated today. Shares of the electric vehicle (EV) leader are now lower by more than 15% so far this year. As of 1:40 p.m. ET, Tesla shares were down by 5.

Chinese automaker BYD (BYDDF) is stepping on the accelerator in its ongoing race with Elon Musk’s Tesla (TSLA) and others to make smart cars more affordable.