EV Giant BYD Looks to Mexico for Plug-In Hybrid Pickup Truck Introduction

A new Shark plug-in hybrid pickup truck by Chinese electric vehicle (EV) giant BYD Co. is reportedly set to debut at an event in Mexico City this Tuesday.

Although BYD has previously stated that the Shark will be sold worldwide, the automaker currently has no plans to sell in the US, the largest pick-up market.

Several other parameters, like the Shark's cost, performance requirements, and place of manufacturers, are still unknown.

BYD Expands EV Production to Europe—This Time to Hungary — BYD selected Hungary as the newest European country to house its EV production facility. The move only electrifies its rivalry with Tesla whom it surpassed earlier this year in terms of delivered units. Joshua Fernandez from Unsplash

(Photo: Joshua Fernandez from Unsplash) BYD selected Hungary as the newest European country to house its EV production facility. The move only electrifies its rivalry with Tesla, which it surpassed earlier this year regarding delivered units.

The launch coincides with a rise in Mexico's market share for Chinese automakers and the US President Joe Biden administration's plans to impose four times the tariffs on imports of EVs manufactured in China.

Sources estimate that 20% of EV sales in Mexico and 87% of EV sales in South America are attributed to Chinese brands.

Unusually for a Chinese company, BYD is introducing a new car outside of its native market. This indicates that Mexico is becoming increasingly significant to BYD and other Chinese manufacturers, whose growth has stagnated.

Bloomberg said earlier this year that BYD is thinking of constructing an electric vehicle manufacturing in Mexico.

Rumors Around BYD's Shark

In November 2022, the BYD electric pickup truck had its facility debut. Previous reports state that the design of the electric pickup was revealed in a leaked October patent.

The truck, which resembles the Ford F-150 Lightning and Toyota Hilux, has four doors, strong fenders, and a "BYD" grille designed by famed Lamborghini and Audi designer Wolfgang Egger.

The most recent BYD teaser showcased the electric pickup's full-length light bar and stacked headlights, akin to the F-150 Lightning, and was dubbed "Shark."

Using DMO technology, BYD made the Shark electric pickup public on social media. PHEVs designed for off-road use, such as the Fang Cheng Bao Bao 5, are built on the DMO super hybrid architecture.

A four-wheel electric drive system that dynamically distributes torque between the front and rear wheels enhances off-road performance. BYD's DM technology, on the CTLC cycle, can produce 245 horsepower (180 kW) and 745 miles (1,200 km).

BYD's Global Expansion

The Shenzen-based company BYD recently announced its first annual profit rise of 80% after overtaking Tesla to become the largest EV vendor globally.

Recently, French Finance Minister Bruno Le Maire indicated openness to BYD constructing a plant in France during a meeting with automobile CEOs, demonstrating how certain nations continue to support and even promote the company's global expansion.

Le Maire emphasized France's willingness to support industrial projects and greeted BYD and the greater Chinese auto industry with open arms when they decided to invest there.

Concurrent with Chinese President Xi Jinping's state visit to Paris, Le Maire stated that the Chinese auto sector, particularly BYD, "are very welcome in France."

Nonetheless, BYD's assertive global expansion has encountered resistance in regions such as the US and Europe, where regulations are designed to safeguard domestic auto industries.

As demonstrated at the Beijing auto show, BYD has expanded its inventory of high-end vehicles in tandem with its aspirations to export them. The company's latest luxury vehicles were displayed at the event, highlighting its push into more affluent regions.