The Chinese automaker BYD has officially launched its new energy vehicle pickup truck, the BYD Shark, in Mexico. The vehicle, unveiled on May 14, 2024, is a plug-in hybrid electric pickup truck and is being offered in two variants in Mexico. The GL variant starts at $53,400, while the GS version is priced at $57,546.
BYD has plans to expand the sales of the BYD Shark to North America and Australia. The BYD Shark is being positioned to compete with popular brands such as the Ford F-150 lineup, Ram 1500, and Toyota Hilux. It is also noted for its competitive pricing when compared to its all-electric counterparts.
The GL variant costs slightly more than the 2023 Ford F-150 Lightning PRO, which starts at $51,990 in the United States. However, both BYD Shark variants cost less than the Tesla Cybertruck and Rivian R1T in the U.S., with the Tesla Cybertruck Rear-Wheel Drive priced at $60,990 and the base Rivian R1T starting at around $69,900. The official launch of the BYD Shark signifies a potential shift in the global pickup truck market, particularly as automakers are turning to hybrids amidst slowing EV sales.
Moreover, BYD’s entry into the pickup truck market comes at a time when other automakers, such as Volkswagen, are also expressing interest in this market. For example, Volkswagen has been developing its Scout brand in the United States to enter the pickup truck market.