Xpeng, Geely shares fall after BYD offers free smart driving features

FILE PHOTO: EV cars are pictured inside BYD's first electric vehicle (EV) factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player, in Rayong, Thailand, July 4, 2024. REUTERS/Chalinee Thirasupa//File Photo

SHANGHAI: Shares in Chinese automakers Xpeng and Geely Auto tumbled on Tuesday on worries they will struggle to compete against BYD's move to offer free smart driving features on almost all of its models.

Xpeng's shares fell as much as 8.4% and Geely's dropped as much as 11.1%, both in the biggest one-day percentage decline since October 8, 2024. BYD's Hong Kong-listed shares rose 4.5% to reach a record high before trimming gains and were last up 0.4%.