Chinese electric vehicle giant WORLD Co I WILL WILLPOWER It is reportedly considering entering the EV truck market like its American counterpart. tesla.
What happened: BYD will launch its first new energy pickup truck this year. CnEVPost reported, citing a source familiar with the matter. The truck will reportedly have dimensions larger than the Toyota Hilux and will be focused on the global market.
There are greater restrictions in terms of maximum speed and years of use on pickup trucks in China compared to other passenger vehicles such as sedans and SUVs.
Several cities also have restrictions on pickup trucks entering urban areas, the report notes, while adding that this could be the reason why BYD's pickup trucks are focusing on the global market rather than its territory.
Warren BuffettTesla-backed BYD took over Tesla as the world's largest EV seller by volume in the final quarter of 2023, only to return the crown to it in the final quarter.
The company did not immediately respond. gasolineRequest for confirmation of the report.
Same type of vehicle, different markets: Tesla began delivering its EV pickup truck called Cybertruck in November. The vehicle is sold only in the United States, a market that BYD has not yet entered.
In January, Tesla CEO Elon Musk He curbed expectations about Cybertruck sales in China, saying it would be “very difficult” to legalize the stainless steel vehicle in the Asian country.
BYD has also not announced any intention to play in the US as of yet. So when BYD launches its electric pickup truck, it is unlikely that it will directly compete with the Cybertruck in the same markets.
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Read more: As Tesla CEO Musk cries “tough quarter,” Ford's electric vehicles surge forward with 86% increase in U.S. sales
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