BYD plans to launch its first electric pickup truck later this year as China’s largest electric vehicle maker takes on global automakers, including Tesla and Ford Motor Co.
The Shenzhen-based automaker said the midsize-to-large pickup truck will be its first “new energy” pickup and designed for global markets. Although BYD released photos of its new truck painted in orange and blue camouflage, it did not announce specifications or pricing details.
Although BYD has not entered the U.S. market, its vehicles are sold in more than 50 countries worldwide. The company has been pushing heavily into markets in Asia and South America, as well as Australia and parts of Europe, such as Hungary.
The pickup will be one of several new models introduced by BYD this year across its brands, such as the $233,000 Yangwang U9 electric supercar. It’s also refreshed several models, including the ultra-cheap e2 and Seagull electric hatchbacks.
The pickup will compete with the few existing electric pickups on the market, including Tesla’s Cybertruck, Ford’s Ranger and F-150 Lightning, and Toyota Motor’s Hilux.
BYD briefly beat out Tesla last year to become the world’s largest EV maker by quarterly sales, boosted by rapid expansion abroad and cheap offerings. After sales dropped 43% in the first quarter of 2024 compared to the previous three month period, Tesla regained its title.
BYD sold 300,114 new-energy vehicles between January and March, while Tesla delivered 386,819 units to customers. However, BYD sales grew 13% year-over-year, even as Tesla deliveries dropped 8.5% and widely missed Wall Street’s expectations.