China’s BYD to start selling electric vehicles in Japan in early 2023 According to Reuters

© Reuters. FILE PHOTO: A BYD Atto 3 EV vehicle is on display at the 39th Thailand International Motor Show, in Bangkok, Thailand, November 30, 2022. REUTERS/Athit Perawongmetha/File Photo

By Satoshi Sugiyama

TOKYO (Reuters) – BYD Co’s Japan division (OTC:) said on Monday it will start selling its first battery-powered electric vehicles (BEVs) in the country early next year, as the world’s largest EV maker pushes ahead with its plans. sells or supplies its automobiles throughout major markets.

China’s BYD, of which Berkshire Hathaway (NYSE:) owns a stake, said it will launch an electric sport utility vehicle, the ATTO 3, in Japan starting January 31. The car has a range of 485 km and will cost $4.4 million yen ($32,735.66).

For comparison, Nissan’s (OTC:) Motor Co’s electric Leaf base model has a range of 322 km and costs around 3.7 million yen.

BYD Japan is planning to introduce two more models by the end of 2023 and more than 100 dealers in Japan by the end of 2025, the company said.

Gasoline-electric hybrid models are still more popular than BEVs in Japan. However, the market share of battery-powered vehicles is expected to grow, in part because non-Japanese automakers such as BYD and Volkswagen (ETR:) are entering the market.

Atsuki Tofukuji, chief executive officer of BYD Auto Japan Inc, said that BYD’s Japanese branch is planning to set up retailers scheduled to start at the end of January in 22 cities but wants to cover all of them. all 47 counties.

“We hope that we can make our presence felt little by little as we work towards carbon neutrality and as our customers demand more options,” he said. difference.

Japanese automakers have been criticized recently by activists and green investors, who criticize them for not adopting battery-powered electric vehicles quickly enough.

Toyota Motor (NYSE:) Corp began selling its first mass-produced all-electric vehicle bZ4X in May as rental-only in the domestic market, for a fee of 106,700 yen per month for the first four years. in a 10-year contract. However, it was forced to recall less than two months later due to safety concerns. It started production again in October.

Just one year into its $38 billion EV plan, Toyota is already considering starting over to better compete in a growing market beyond the automaker’s predictions, Reuters reported in October.

($1 = 134,4100 yen)

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