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- Chinese carmaker BYD plans to launch its first electric pickup truck this year.
- It released an image of the vehicle on the road, but is yet to reveal how much it'll cost.
- The truck could compete with offerings from Ford, Toyota and Tesla's Cybertruck.
BYD has revealed plans to launch a rival to Tesla's Cybertruck later this year.
The Chinese carmaker released images of the electric pickup truck, featuring a bright orange and blue paint job, on Thursday.
It said it plans to start selling the vehicle at some point in 2024, but didn't announce pricing.
BYD to launch 1st new energy pickup truck for global market within this year https://t.co/qoPHwV9xtQ via @CnEVPost
— Thematica (@Thematicafunds) April 5, 2024
BYD's offering will face competition from EVs including the Cybertruck, which Tesla launched last year, as well as the likes of Ford's F-150 Lightning and the Toyota Hilux.
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BYD doesn't sell vehicles in the US and appears to have no plans to do so anytime soon. It's opened new plants in locations including Mexico and Hungary in recent months as it strives to expand sales outside China.
Its latest announcement comes as it battles a sharp slowdown in sales of its electric cars, with would-be buyers around the world opting for cheaper hybrid options instead.
BYD said in a stock exchange filing on Monday that it sold about 300,000 EVs over the first three months of 2024, down 43% from the previous quarter.
That meant the company gave up its title as the world's top EV seller to Tesla, despite posting its own disappointing delivery numbers.
The new vehicle would be BYD's first new energy pickup truck. Its EVs range from the five-door Seagull hatchback, which sells for under $10,000 and was China's second best-selling car last quarter, to the U9 supercar, which costs more than $200,000.