#BYD #NewEnergy #ElectricVehicles
For an automotive market like Japan, which is the base of global giants like Toyota, Honda, Nissan and Mazda, and saw early entry of hydrogen-fuel vehicles, it is easy to assume that the country would be a big market for new energy vehicle makers. But the numbers tell a different story. According to the latest Counterpoint Research Global Passenger Vehicle Trackers, the NEV penetration in Japan is around 1% compared to around 15% in China. The total NEV sales in Japan from 2018 to 2021 were just 4% of the total sales in China in 2021. It is easy to conclude that Japan is not an attractive market for EV makers. But opportunities can be found when taking an in-depth look into the market.
In fact, the Japanese government is now actively pushing EVs by providing subsidies to set up EV charging stations. So, can Chinese EV Makers Make it Big in Japan? Why BYD decided to enter Japan electric car market? What are the opportunities and challenges for Chinese car companies to go overseas? Moreover, as for fuel cell electric vehicles and battery electric vehicles, what will be the future trend?
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