Will we see an affordable Electric pickup truck from New Zealand before a new Proton Arena?
China’s LDV has recently made headlines by significantly reducing the price of its electric ute, the eT60, in New Zealand. Just under two years after its debut in both New Zealand and Australia, the eT60’s price has dropped dramatically in the Kiwi market. The starting price has been cut from NZ$79,990 (about RM218,381) to NZ$41,990 (around RM114,621).
This substantial price reduction in New Zealand could be due to several factors. One key reason is the decline in electric vehicle (EV) sales following the end of the Clean Car Discount on 31 December 2023. Data from evdb.nz shows that while the eT60 initially enjoyed strong sales, with 262 registrations since its October 2022 launch.
Moreover, another factor could be LDV’s anticipation of introducing a new, high-performance version of the eT60, potentially featuring a quad-motor powertrain in 2024, which could be prompting the company to clear out existing stock.
With the eT60’s price cut in New Zealand, we ask, will Malaysia see similar price reductions or this EV pickup truck? In Australia, where the eT60 launched in late 2022, the vehicle is priced at A$88,431 (approximately RM268,804) for commercial buyers and A$92,000 (roughly RM279,564) for non-commercial buyers.
On top of that, the eT60 comes equipped with an 88.5 kWh battery offering a range of 330km and supports both AC and DC fast charging. Despite its promising specs, sales in Australia have been modest, with just 79 units sold in 2023 and only 8 more in the first half of 2024.
The emergence of competitors, such as the Tembo EV Tusker-D, which offers a similar power output but with improved torque and a range of up to 400 km, could also be influencing LDV’s pricing strategy. With limited options in the electric ute segment and a still-strong demand for internal combustion engine (ICE) utes, LDV may look to lower prices further to boost sales and remain competitive.
Given the trends in New Zealand and Australia, it is plausible that Malaysia could also see a reduction in the eT60’s price in the near future. As LDV adjusts its pricing strategy to align with market conditions and clear existing inventory, Malaysian buyers might benefit from similar price cuts, enhancing the EV appeal in the region.
Thank you Driven.io for the information and images.
