0347 GMT - BYD is shifting its strategy to meet competition, from price cutting in 2024 to functional upgrades this year, Nomura analysts say in a research note. BYD Monday introduced its smart driving system The God's Eye, which will be available in most of its models. Nomura thinks BYD is the first carmaker in China to bring level 2+ advanced driving assistance functions into below-70,000-yuan market. With China's national level trade-in policy, customers could buy battery-electric vehicles powered with level 2+ driving assistance system for less than 60,000 yuan, they say. BYD's product mix "looks attractive for end-customers and should help the company to deliver further growth ahead in both China and overseas markets," they note. Nomura maintains a buy call on BYD and keeps its target at HK$375. Shares were last at HK$330. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
February 10, 2025 22:47 ET (03:47 GMT)
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