Chinese electric automaker BYD has just announced plans on Friday to roll out two new electric vehicle models in the Japanese market yearly through 2026, according to Nikkei Asia.
The move is a crucial part of BYD’s strategy to disrupt the fourth-biggest automotive market in the world, currently led by Japanese legacy automakers like Toyota.
Plan details
BYD outlined its plans to launch a new electric vehicle model every year in Japan in the subsequent two years as it seeks to capture a share of the local market.
“We hope to launch new models by listening to customers’ needs and demands.”
Liu Xueliang, BYD Asia Pacific Auto Sales Division General Manager (via Kyodo)
According to the report, BYD will choose from its available electric vehicle models in China to join its product portfolio in Japan.
BYD plans to launch the new Seal electric sedan in late 2024, followed by two new models in 2025 and 2026.
“One of the factors behind (Japan’s slow adoption of EVs) is that there were not many models for customers to choose from. We hope to widen a range of options for various customers.”
Liu Xueliang, BYD Asia Pacific Auto Sales Division General Manager (via Kyodo)
BYD’s footprint in Japan
Despite the growing prevalence of BYD overseas, it remains a small player in the Japanese auto market, where battery-electric vehicles hold only a 2% share in new car sales.
As of now, BYD only sells two electric vehicles in the country, including the Atto 3 SUV and the Dolphin compact car.
The Chinese electric vehicle giant cumulatively sold more than 1,400 units in Japan through December 2023.
“When we first arrived in Japan, only people in the know had heard of our company. But we’re expanding our footprint here one step at a time.”
BYD Auto Japan President Atsuki Tofukuji told reporters in Tokyo (via The Japan Times)
BYD’s expansion plans
BYD now aims to boost its sales figures in the Japanese market by expanding its dealership network to 100 locations in 2025, a significant increase from about 20 local dealerships today.
BYD also seeks to launch a marketing campaign across 30 locations, including commercial facilities in the country, in 2024.
The move will enable prospective buyers to check and test drive the available electric vehicle models there.
BYD’s move to increase its electric vehicle push in the Japanese market is indeed a huge opportunity for the company, considering the intense competition Chinese automakers face in Europe and the US.
