1. BYD plans to launch its first electric pickup truck this year, with no announced price yet.
2. The truck will compete with offerings from Ford, Toyota, and Tesla’s Cybertruck.
3. BYD is expanding into new plants outside of China to increase global sales amid a slowdown in EV sales.
Chinese carmaker BYD is planning to launch its first electric pickup truck this year. The company has released images of the vehicle, but the cost has not been revealed yet. The electric pickup truck will compete with offerings from Ford, Toyota, and Tesla’s Cybertruck.
BYD announced plans to start selling its electric pickup truck in 2024, but pricing information has not been disclosed. The vehicle will be a rival to Tesla’s Cybertruck and will also compete with the Ford F-150 Lightning and the Toyota Hilux. BYD is not currently selling vehicles in the US but has expanded its manufacturing plants in locations like Mexico and Hungary to boost sales outside of China.
The Chinese carmaker has seen a decline in sales of its electric vehicles, with buyers opting for cheaper hybrid options instead. Despite this, BYD sold about 300,000 EVs in the first three months of 2024, down 43% from the previous quarter. The new electric pickup truck would be BYD’s first new energy pickup truck and will join its current line up of electric vehicles that range from affordable hatchbacks to luxury supercars.