BYD Shark Pickup Gains Attention as Chinese Automaker Targets Global Truck Market
While BYD has yet to announce plans for the U.S. market, its Shark pickup truck is making waves in countries where major automakers like GM, Ford, and Toyota sell trucks.
DETROIT — The global pickup truck market is seeing a new competitor circling its lucrative profits as Chinese automaker BYD Auto expands with its new Shark model.
With its design resembling a smaller Ford pickup, the BYD Shark could easily be mistaken for an American-made vehicle. The truck’s exterior features similarities to a Ford Explorer mixed with the iconic F-150, one of the best-selling trucks in the U.S. for nearly five decades. This launch follows in the footsteps of BYD's other successful, budget-friendly models like the Seagull — an all-electric hatchback priced at less than $10,000.
The Shark’s entry has sparked concern among global automakers, fearing that Chinese brands like BYD could undercut their market share, especially as vehicle prices remain a significant challenge. Though BYD has not confirmed plans to bring the Shark to the U.S., it has begun selling the vehicle in markets where General Motors, Ford, and Toyota dominate, including Australia, Brazil, and Mexico.
Pickup trucks are crucial to the success of American automakers, with millions sold annually. They also play a vital role for Toyota both in the U.S. and abroad. "These products are crucial for revenue; they are the franchise," said Terry Woychowski, president of Caresoft Global, an engineering consulting firm. Caresoft has studied dozens of China-made EVs from BYD and competitors like Nio, examining their components to help automakers improve efficiency and reduce costs.
The Shark has quickly garnered attention from major automakers such as Ford and Toyota, which rely heavily on smaller trucks in international markets. "It’s a great product," said Ford CEO Jim Farley. "They’re trying to sell it in high volume in Mexico, and it's being localized in Thailand. If we want to stay competitive globally, we have to take it seriously."
The Toyota Hilux, a best-seller outside North America, has sold nearly 20 million units since its debut. Toyota Chairman Akio Toyoda has acknowledged the growing presence of Chinese competitors but emphasized the company’s strategy to tailor its products to specific regional needs.
BYD's export strategy has been effective, with the company shipping over 10,000 Sharks in 2024 alone. As the company expands production, it continues to gain market share in the global auto industry, with sales expected to rise from 4.3 million vehicles in 2024 to an estimated 5.5 million in 2025, according to Goldman Sachs.
The Shark’s hybrid powertrain — combining electric motors with a 1.5-liter internal combustion engine — offers the option of running entirely on electric power or using the engine to charge its batteries, providing a combined range of over 500 miles. The truck starts at around $44,000 in Mexico, making it an affordable option compared to other hybrid or electric trucks in the U.S., while pricing similarly to mid-range models like the Ford Ranger and Toyota Tacoma.
While the BYD Shark shows promise, it’s not without areas for improvement. In test drives, the truck demonstrated quick acceleration, though its ride and handling weren’t as refined as U.S. trucks. The build quality is strong, but there are some unique features — such as the battery technology placed under the rear seats — that leave room for enhancement.
"BYD has done well in certain areas, but there’s still work to be done," said Woychowski. "Overall, it's a credible truck, and improving the finer details won’t be difficult."
As BYD continues to push its presence in global markets, it has demonstrated a remarkable ability to develop innovative, cost-effective vehicles that challenge traditional players in the automotive industry.
— CNBC’s Michael Bloom contributed to this report.