BYD, the world’s largest electric-vehicle (EV) maker, has unveiled its new mid-size hybrid-electric pickup truck called the Shark in Mexico. This marks the first time that BYD has launched a new product outside of China, signaling the company’s commitment to expanding its presence in the North American market. Despite new U.S. tariff hikes on Chinese EVs, BYD’s regional chief, Stella Li, stated that the company has no plans to enter the U.S. market and that the tariff increases will not impact them. In fact, BYD is looking to build a plant in Mexico to cater to the growing demand for pickup trucks in the country.
Li explained that Mexico was chosen as the location for the unveiling of the Shark due to the rapid growth in demand for pickup trucks in the country. This move further strengthens BYD’s foothold in Mexico and allows them to directly compete with established automakers such as Ford, General Motors, and Toyota. Li emphasized that BYD’s focus is on the Mexican market and other countries, rather than the U.S.
Regarding the potential plant in Mexico, Li revealed that BYD has a shortlist of potential sites and is currently engaged in a “deeper dialogue” to make a final decision. The plant is expected to have a capacity of 150,000 vehicles per year and will take two to three years to complete. Li expressed optimism that both the central government and individual states in Mexico would offer incentives to attract BYD’s investment due to the technology and job opportunities it would bring.
The presence of Chinese automakers in Mexico has grown significantly since 2017, with one out of every ten cars sold in Mexico last year coming from a Chinese automaker. MG Motors, a unit of SAIC, dominated nearly half of the market. However, Mexico’s federal government has been hesitant to offer incentives to Chinese automakers due to pressure from the United States. Li mentioned that BYD has not yet discussed incentives with the Mexican government but believes that the states and central government will make attractive offers to encourage their investment.
In terms of the Shark’s competition in Mexico, it will go head-to-head with compact and medium-sized trucks like the Toyota Tacoma and Ford Ranger. Although it is costlier than most competing vehicles, with a starting price of 899,980 pesos ($53,442.68) for the Shark GL and 969,800 pesos ($57,588.73) for the premium Shark GS, BYD is confident that its advanced technology and features will appeal to customers.
The Shark boasts an impressive range, capable of traveling up to 100 kilometers (62 miles) in EV mode before needing to be recharged. It can cover up to 840 km using a combination of electric and combustion methods. According to BYD’s brochure, the pickup consumes 7.5 liters of fuel per 100 kilometers (31.4 mpg) traveled.
Overall, BYD’s launch of the Shark in Mexico demonstrates their commitment to expanding their presence in the North American market. Despite new U.S. tariffs on Chinese EVs, BYD remains focused on the Mexican market and is actively considering building a plant in the country. With its advanced technology and features, BYD aims to compete with established automakers and attract customers in Mexico’s growing pickup truck market.
