Chinese electric vehicle manufacturer BYD has raised $5.6 billion through a primary share sale in Hong Kong, marking the largest such offering in the city in four years and the largest in the global automotive sector in a decade. The funds will be used to support the company's global expansion and enhance research and development, particularly in autonomous driving technologies. The share sale, which involved the issuance of 129.8 million new H shares, reflects BYD's strategy to strengthen its technological capabilities and expand its presence in international markets. The company already has localized production lines in Hungary, Brazil, and Türkiye, with plans for further expansion in regions such as Mexico. BYD has also recently introduced 21 new intelligent driving-enabled models featuring its 'God's Eye' system, a move aimed at lowering the cost of entry into the smart car market in China. This comes amid an ongoing price war in the world's largest auto market, where competitors such as Tesla and Toyota are unveiling new models and aggressive pricing strategies.