The pickup truck market may be the focus of BYD‘s upcoming new personalized brand. According to a report from the local auto media Yiche on Sunday, the automaker’s initial model would have both hybrid and all-electric powertrains to be launched in 2023.
BYD Chairman Wang Chuanfu announced that the company would introduce an extremely specialized and personalized new brand next year, according to CnEVPost.
This new brand will cater to consumers’ growing prevalent demand for personalization. Wang stated at the time that it would prioritize user relationships and bring on top-notch dealers.
Yiche previously referenced a slide from a BYD conference held early last year as confirmation that BYD will deliver pickup truck models with its hybrid DM system and pure electric system in 2023.
BYD current brands
The BYD brand makes up the majority of the company’s automotive operations. Meanwhile, its product matrix consists of the two series Dynasty and Ocean.
Apart from that, the leading Chinese company also owns the Denza brand, a joint venture with the Mercedes-Benz Group.
Furthermore, it recently revealed Yangwang as the name of its luxury automobile brand on November 8.
It is worth noting that BYD led the Chinese NEV market with 217,816 sales worldwide in October. However, the automaker has still not entered the pickup truck market.
For those unaware, pickup truck access limitations have been loosened in various Chinese cities beginning this year, which has reignited consumer interest in these vehicles.
China’s pickup truck market
Radar claims that customers are increasingly adopting pickup truck models owing to its policy backing and tech advancements.
China Passenger Car Association (CPCA) revealed that the number of pickup trucks sold in China in October was 41,000 units. It fell 6.8% from the same month last year and recorded a 6.8% decrease from September.
The CPCA reported that Great Wall Motor kept a commanding lead in the manufacturers’ October sales rankings for pickup trucks. According to the report, Great Wall Motor sold 15,697 pickups in October, SAIC Maxus came in second with 6,217 sales, and JAC came in third with 4,187 sales.