The Japan Times reported on its front page that BYD is turning its attention to the Japanese electric vehicle market.
The automaker showcased its latest models at the Japan Mobility Show. The Japan Mobility Show will open on Thursday, with major automakers and non-traditional companies displaying their latest electric vehicles, which are set to make their debut in Japan, where battery electric vehicles remain a niche market. However, one automaker has drawn significant attention: China's BYD, the world's largest electric vehicle manufacturer, with its electric mini car model for the Japanese market. During the media preview of the biennial Japan Mobility Show on Wednesday, BYD executives emphasized that the company is "fully committed" to the Japanese market and introduced new models, including the Raccoon mini car, which will be launched in the summer of next year, to win the favor of Japanese consumers. "We developed the Raccoon to meet the Japanese light mini car standards, making it the first BYD model specifically designed for overseas markets," said the president of BYD Auto Japan. He also added that BYD has already produced more than 100 prototype Raccoon vehicles and is currently conducting various tests in preparation for its debut. Details, including the price, have not been disclosed yet.
BYD began selling passenger cars in Japan in 2023, facing a tough time in a country where domestic manufacturers dominate. As of last month, BYD has sold approximately 7,100 cars since 2023. Traditionally, many foreign automakers, including American automotive giants, have struggled to break into the Japanese market. According to Takashi Yokoyama, a senior analyst at Aizawa Securities, "If the price and specifications are attractive, along with comprehensive service, BYD's mini cars have a good chance of being popular." Mini cars, known as "kei cars" in Japan, are smaller than standard-sized cars and form their own category. They are usually cheaper and have lower operating costs than standard-sized cars, accounting for about 36% of total new car sales in Japan in the fiscal year 2024.
Nissan, Honda, and Mitsubishi Motors have already launched their own electric mini cars. Nissan's "Sakura" mini car has been the best-selling electric vehicle in Japan for three consecutive years.
Recently, although the global shift to battery electric vehicles has been slow, it has never really taken off in Japan. Instead, hybrid vehicles remain the preferred choice for eco-friendly cars here, while battery electric vehicles remain a niche market, accounting for only 1.4% of new car sales in the first six months of this year. Yokoyama said, "Consumers do not have an urgent reason to buy electric vehicles right now." He also added that even with government subsidies, the prices of battery electric vehicles are still high, and the range of models is limited. Yokoyama added, "The charging infrastructure has improved, but it is still far from sufficient." However, there are still opportunities for new entrants, including non-automotive manufacturers, to enter the market.
Sharp announced last week that it will start selling electric vehicles in the 2027 fiscal year. Its vehicles will be produced by its factory in Taiwan.
Original article: www.toutiao.com/article/1847411148637184/
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