BYD has made a significant impact in the Australian market, particularly with fleet buyers. The Shark PHEV has been a standout success, with strong interest and thousands of orders already placed. At the Everything Electric show earlier this month in Sydney, Damian Tainton, Head of Product at BYD Fleet, shared insights into the Shark’s success, BYD’s broader fleet strategy, and what’s ahead in 2025.
Why Has the BYD Shark PHEV Been So Successful?
The Shark PHEV has drawn considerable interest, and Tainton attributes this to a well-planned approach that started long before its official launch. “Probably the key to success… obviously, it’s a good product, but we started really putting this vehicle into the market maybe six, seven months before we actually launched it physically,” he explained.
BYD engaged fleets early, offering them a look at the prototype and gathering valuable feedback. “We had a demo out at our office, out in Port Melbourne… it was rough and ready, but it gave people the idea of what it was. But we had fleets come out and have a look at it,” he said.
This fleet engagement was not just local but extended to the ACT and Queensland governments, who are strong supporters of EV adoption. “We spoke to the team at the Department of Forestry… got an understanding of what they use the vehicles for,” Tainton said. Their feedback helped shape the final product.
The results have been staggering. “Since then, we’ve done close to 6000 orders… a large proportion of that will be novated lease and fleet buyers,” he confirmed. Interest in the Shark has been so high that potential buyers have even turned up at his home. “I had people come to my front door, knock on my door and go, ‘Can I have a look?’”
While many plug-in hybrid competitors are based on traditional petrol or diesel platforms, BYD has taken a different approach. “Primarily, the Shark… it’s an EV first car,” Tainton said. “A lot of the contemporaries are petrol cars or diesel cars with a battery… but from us, from our point of view, ours is an EV.”
This distinction is important for fleets transitioning towards electrification. “It’s a battery vehicle with a petrol engine able to run as an EV only, which I think is probably the big key of it,” he explained.
The Shark’s vehicle-to-load (V2L) capability is also a significant advantage, especially for fleets that rely on mobile equipment. “With three power points in the back that you can run your 240-volt equipment on… you’re charging batteries, or you’re running fridges or anything like that,” he noted.
Fleet buyers hadn’t specifically requested this feature, but once they saw it in action, they recognised its benefits. “It wasn’t one of the tick items for a lot of fleets, but when you look at it and go, ‘Well, this is what I can do,’ you can see the possibilities,” he said.
Fleet Concerns: Residual Values and After-Sales Support
As a newer brand in Australia, BYD faces questions about long-term value and after-sales support. Tainton, who has extensive experience in residual value management, is keenly aware of these concerns.
“Certainly, my background is looking at residual values. I’ve spent a lot of my career looking at that… and the business has been very supportive in relation to my feedback and feedback of others as to what we should be doing to protect residual values of the vehicle,” he said.
One way BYD is addressing this is by avoiding mass discounting, a strategy that has hurt other brands.
“We’ve recently launched a fleet program, but we’ve been very circumspect about that, because we don’t want to just mass discount the vehicles every time when we happen to have a bit of a surplus of stock,” he explained.
BYD has also been engaging with fleet management organisations (FMOs), both large and small.
“We’re also having a conversation with a lot of the smaller FMOs, or new-to-market FMOs, who are trying to innovate by being different,” he said, mentioning companies like LeaseLab, Flair, and StreetFleet.
“They’re supporting a higher residual value position because they understand the benefit of the vehicle and where it’ll be longer term.”
BYD’s 2025 Outlook for Fleet Sales
BYD is not slowing down, with new models on the horizon and an aggressive push to reduce the price gap between EVs and internal combustion vehicles. “Probably the big things on the horizon, certainly from a fleet point of view… the essential range we’ve just released or just announced in the market,” Tainton said.
One of the standout models is the Dolphin Essential, which comes in under $30,000 before on-road costs. “That’s, I think, a new benchmark for the industry,” he noted. “And I can only see others trying to get below that, because it’s a point that tips it in favour of being EVs versus ICE vehicles.”
The Sea Lion 6 and other models will also play a key role in BYD’s fleet strategy. “We think that’ll help engage consumers a lot more, because it will reduce that price parity between ICE and EVs,” he added.
What Incentives or Support Do Fleets Need to Accelerate EV Adoption?
While financial incentives are always helpful, Tainton believes that BYD’s strategy is focused on making EVs more accessible through pricing and innovation. “We’ve continually looked at what we can do to innovate, and part of that innovation is how we get people into the cars,” he said.
BYD has already disrupted the market with lower-priced EVs, which in itself encourages fleets to transition.
“All that just helps to decarbonise the fleet,” he explained. “You look at the Shark, which is revolutionary in that space, you’re looking at a vehicle that’s $57,990 before on roads… does that justify a different brand on the bonnet? Potentially not. But with our price point… fleets can get into decarbonising differently.”
BYD’s Growing Role in Fleet Electrification
With strong demand for the Shark PHEV, a focus on maintaining strong residual values, and a lineup of affordable new models on the way, BYD is positioning itself as a key fleet supplier in 2025 and beyond.
“It’s a big pie and we all want a slice of it,” Tainton said. “And as long as someone’s getting an electric vehicle, that’s probably the ultimate outcome… obviously, we want them to get into BYDs before they get into everything else.”
Fleet managers considering BYD’s lineup will find a well-supported, competitively priced range of vehicles designed to ease the transition to electric. With BYD’s momentum, 2025 could be a defining year for fleet electrification in Australia.
