Chinese EV Makers Targeting Japanese Market
Tokyo, Aug. 13 (Jiji Press)--Chinese automakers are banking on the Japanese electric vehicle market as they struggle with slowing growth in their home market and high tariffs in the United States and Europe. BYD Co., a Chinese electric vehicle giant, released the Racco, a minivehicle developed exclusively for the Japanese market, on July 28. BYD Vice President Liu Xueliang said at a launch e...
Tokyo, Aug. 13 (Jiji Press)--Chinese automakers are placing their hopes on the Japanese electric vehicle market as their domestic sales slow and they face high tariffs in the United States and Europe. BYD Co., a leading Chinese electric vehicle manufacturer, unveiled the Racco, a minivehicle tailored for the Japanese market, on July 28.
At a launch event in Tokyo, BYD Vice President Liu Xueliang stated the company's ambition to gain a significant market share in Japan over time. BYD enlisted the expertise of a former Nissan Motor engineer who played a pivotal role in the development of Nissan's Sakura electric minivehicle to create the Racco. The BYD electric minivehicle boasts features popular among families with children, including automatic sliding doors, as well as additional conveniences such as an umbrella stand and a heat-insulated cup holder.
BYD sold approximately 4.6 million vehicles worldwide last year, with the majority of growth occurring in Southeast Asia and Europe. The Chinese company has now surpassed U.S. automaker Tesla Inc. to become the world's largest electric vehicle manufacturer.
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