The shares of Tesla Inc. tumbled more than 3% in the premarket on Tuesday, as the carmaker's Chinese competitors released new announcements.
Chinese electric car firm Zeekr told CNBC that it will roll out its advanced driver-assistance capabilities to local customers free of charge. Zeekr CEO Andy An detailed that the system will allow clients to sit back while the vehicle drives almost completely autonomously from one point to another, but they will have to keep their hands on the wheel. He also mentioned that regulatory approvals will be needed. Meanwhile, BYD Auto Co., Ltd. recently unveiled its "Super e-Platform" technology that can offer a charging speed of up to 1,000 kW, which is double the power of Tesla's V4 superchargers. BYD also shared its plans to invest in the creation of 4,000 of its new fast chargers across China.
Tesla's stock slid 3.11% at 7:44 am ET, going for $230.60 apiece.
