Toyota Plans New Electric Pickup Trials in Thailand Amid Rising Competition from Chinese EV Makers

Toyota to Trial HiLux BEV in Thailand to Counter Competitive Threat from Chinese Automaker BYD; New EV Pickup Accounts for 50% of the Country's Auto Industry Sales.

Toyota will soon trial a new electric pickup, the HiLux BEV, in Thailand to counter increasing competition, particularly from Chinese automaker BYD.
Pickup trucks account for nearly half of all vehicle sales in Thailand, a critical market for Toyota, where it commands a 39% market share in the one-ton pickup truck segment.
Toyota's engineers are working on adapting its electric pickups to local conditions and enhancing EV R&D capacity in the nation. The new pickup is set to undergo trials in the beach city of Pattaya, tested for use as 'songthaews' or taxis.
Chinese EV manufactures have made significant inroads into the Thailand market, with BYD alone accounting for over a third of EV sales since entering the market in the previous year.
Despite being a dominant player in global automotive markets, Toyota recently lowered its forecast for global battery EV sales by 39% for the fiscal year ending March 2024, citing limited vehicle line-ups.