Chinese carmaker BYD has decided not to sell its new plug-in hybrid pick-up truck, the Shark 6, in Thailand after receiving fewer orders than expected. The vehicle was introduced at a major car show in Bangkok earlier this year and was supposed to be limited to just 500 units. However, only 153 people placed orders, prompting the company to cancel the launch entirely.

According to Thai media, BYD’s local partner, Rever Automotive, is now asking to cancel all existing orders. Fortunately, no deposits were collected from customers.

One major reason for the lack of interest appears to be the price. At nearly 1.7 million baht (around RM221,000), the Shark 6 is significantly more expensive than popular pick-up trucks in Thailand like the Toyota Hilux, Isuzu D-Max, and Ford Ranger. The high price is partly due to import taxes, since the Shark 6 is made in China and shipped to Thailand as a fully built unit.

BYD says it plans to introduce a different pick-up truck next year that will be built locally in Thailand, which should help reduce costs and make it more competitive.

The Shark 6 is a large and powerful vehicle, featuring both petrol and electric motors for better performance and fuel efficiency. But despite its advanced technology, it seems the price tag was too steep for Thai buyers.