On Monday, Tesla announced the launch of a new portable home charging device, suitable for all vehicle models, which was specifically designed to meet multiple use case scenarios in the Chinese market. The device, called the Cybervault, carries a price tag of RMB 5,000 ($727), requires 220 volts and 32 amps, and can be used as a home or portable charger for outdoor use. Since last year, the US automaker has been facing increasing pressure from local rivals. While it sold 60,766 vehicles in China during the first two months of this year, it was far behind BYD’s 341,828 units, according to figures from the China Passenger Car Association. [Tesla announcement, in Chinese]