May.2024 09
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BYD's First New Energy Pickup Truck Officially Announced to Debut in Mexico on May 14th
Introduction
EqualOcean has learned that BYD's new pickup truck model - SHARK will be officially launched in Mexico on May 14th local time for its world debut, a news that has attracted a lot of attention on the internet.
Details

BYD named its first new energy pickup vehicle SHARK (Shark), which is aimed at extreme off-road enthusiasts.

From the outside, SHARK has a square front end with a large BYD logo and a large silver cross-country style bumper design; it is equipped with exterior devices such as rear wraparound footrests and roof racks, which make it easy for users to get in and out of the cargo box while also expanding cargo loading capacity; and it has a higher utility and functional value, emphasizing its cross-country application position.

In terms of interior design, the BYD SHARK pickup truck has a hard-style large centre console, the steering wheel has a unique four-spoke design, and the overall interior is primarily black, with a small amount of orange added to highlight the lively sports elements.

In terms of power, the BYD SHARK will most likely be available in both plug-in hybrid and electric versions, and it is built on the DMO Super Hybrid Off-Road platform, which is supposedly compatible with engines of two different displacements: 1.5T and 2.0T.

One of the reasons BYD Auto chose Mexico as the SHARK's launch destination is because the company regards the Mexican market in its global strategic plan. According to the Mexican Statistics Institute and the Mexican Association of Automobile Distribution Enterprises, Chinese automobiles such as BYD and JAC will account for 19.5% of the Mexican market in 2023, with sales of 129,329,000 units, a 63% increase over the previous year. Mexico's local new energy automotive sector is weak; the proportion of local brands is low; at the same time, the market is dominated by fuel vehicles; the new energy vehicle market share is limited; and new energy vehicles have the potential to bend the road to overtake. 

Furthermore, Mexico has long been the world's seventh-largest car producer; the domestic auto parts industry's supporting services are complete; the industry chain is more complete; and there is a big number of automotive industry producers in the country. At the same time, Mexico announced a number of policies to stimulate new energy transformation, including the implementation of applicable tram favourable policies and subsidies. Since 2022, Tesla, Ford, Nissan, and other automakers have announced the construction (or expansion) of Mexican facilities. General Motors and other automakers are also intending to adapt their production lines to accommodate the production of electric vehicles. Overall, the Mexican vehicle consumer market and manufacturing capacity have considerable upside and an optimistic future.

In recent years, the development of faster new energy car brands, BYD Auto was exported to Mexico in 2023, and the location of the Mexican plant is likely to be determined in February 2024. BYD Auto's move is intended not only to service the Mexican market, but also to shape the North American market and establish a pioneering point of strategic consideration.

Author: EqualOcean News

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