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Tesla’s Prime Rival From China Eyes Launching Cybertruck Challenger — However This is Why A Face-Off Appears Unlikely For Now – BYD (OTC:BYDDF), BYD (OTC:BYDDY)



Chinese language EV large BYD Co BYDDF BYDDY is reportedly eyeing entry into the EV pickup truck market like its U.S. counterpart Tesla.

What Occurred: BYD will launch its first new vitality pickup truck this 12 months, CnEVPost reported, citing a supply acquainted with the matter. The truck will reportedly have dimensions exceeding the Toyota Hilux and will likely be targeted on the worldwide market.

There are heightened restrictions by way of most pace and years of use on pickup vans in China as in comparison with different passenger autos like sedans and SUVs.

A number of cities even have restrictions on pickup vans getting into city areas, the report famous, whereas including that it is likely to be why BYD’s pickup truck is targeted on the worldwide market as a substitute of residence floor.

Warren Buffett-backed BYD took over Tesla because the world’s largest EV vendor by quantity within the final quarter of 2023, solely to return the crown within the final quarter.

The corporate didn’t instantly reply to Benzinga‘s request for affirmation on the report.

Identical Automobile Sort, Totally different Markets: Tesla began delivering its EV pickup truck known as the Cybertruck in November. The automobile is bought solely within the U.S., a market the place BYD is but to make inroads.

In January, Tesla CEO Elon Musk dampened expectations for Cybertruck gross sales in China saying that it might be “very troublesome” to get the stainless-steel automobile street authorized within the Asian nation.

BYD, too, has not introduced any intentions to play within the U.S. as of but. So when BYD rolls out its electrical pickup, it’s unlikely that it’s going to immediately compete towards the Cybertruck in the identical markets.

Take a look at extra of Benzinga’s Future Of Mobility protection by following this hyperlink.

Learn Extra: Whereas Tesla CEO Musk Cries ‘Powerful Quarter,’ Ford’s EVs Cost Forward With 86% Gross sales Leap In America

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