MEXICO CITY: Chinese automaker BYD unveiled the Shark, a mid-size hybrid-electric pickup truck, in Mexico on Tuesday, expanding its foothold in the North American market with a vehicle aimed directly at incumbents Ford, General Motors and Toyota .
The Shark is only available in the Latin American nation, executives said, and is the first time the world's largest electric-vehicle (EV) maker has launched a new product outside its home country.
BYD chose Mexico because of the rapid growth in demand for pickup trucks in the country, Chief of Americas Stella Li said.
The model is meant to tackle common downsides to pickups, such as high fuel consumption as well as poor handling and control, Li added.
It will go head-to-head in Mexico with compact and medium-sized trucks such as the Toyota Tacoma and Ford Ranger. It is, however, costlier than most makes of both of the 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.
The Shark's size and features are consistent with those of vehicles offered in the U.S., a market BYD did not address in its presentation Tuesday. U.S. President Joe Biden on Tuesday announced new tariffs on Chinese products, including a new 100% duty on Chinese EVs.
U.S. Trade Representative Katherine Tai later said that the United States is weighing tariffs on imports from Mexico.
The Shark can travel up to 100 km (62 miles) in EV mode before needing to be recharged, according to a brochure from BYD, and up to 840 km using both electric and combustion methods.
The pickup consumes 7.5 liters of fuel per 100 km (31.4 mpg) traveled, the brochure detailed. -- Reuters