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China's BYD to start selling EVs in Japan by early 2023

China's BYD to start selling EVs in Japan by early 2023
The world's largest EV manufacturer is stepping up its plans to sell or make its cars available in major regions, and a division in Japan announced on Monday that it would begin selling its first battery electric vehicles (BEVs) in the nation early next year.
 
Atto 3, an electric sports utility vehicle, will be introduced in Japan on January 31 by BYD of China, a company in which Berkshire Hathaway (BRKa.N) has invested. The vehicle has a 485-kilometer cruising range and will cost 4.4 million yen ($32,735.66).
 
In contrast, the regular electric Nissan Motor Co. (7201.T) Leaf model has a 322-kilometer range and costs around 3.7 million yen.
 
According to the business, BYD's Japan division intends to launch two further models by the end of 2023 and open more than 100 dealerships there by the end of 2025.
 
In Japan, gasoline-electric hybrid vehicles continue to be more popular than BEVs. However, it is anticipated that the market share of battery-powered vehicles will increase, in part because non-Japanese automakers like BYD and Volkswagen (VOWG p.DE) are entering the industry.

According to Atsuki Tofukuji, CEO of BYD Auto Japan Inc., the BYD Japan division intends to open test stores in 22 cities starting in late January but is keen to expand to all 47 prefectures.
 
He added, "We hope that we can gradually establish our presence as we progress toward carbon neutrality and as our clients desire a variety of options.
 
Recent criticism of Japanese automakers for their slow adoption of battery electric vehicles comes from activists and green investors.

(Source: REUTERS) 

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