BYD, China’s biggest carmaker, has introduced its Dolphin electric vehicle to the Japanese market, aiming to penetrate a market dominated by local heavyweights Toyota, Honda, and Nissan.
Price and Specifications
The Dolphin EV starts from 3.63 million yen (US$24,560) for the base model, equipped with a 70 kWh battery offering a range of 400km. The extended-range model is priced at 4 million yen, featuring a 150 kWh battery with a range of 476km per charge.
Market Challenges
Japanese consumers have traditionally preferred buying cars from domestic powerhouses like Toyota, Honda, and Nissan. Imported cars, including EVs, account for only 6% of the market.
Previous Attempts
BYD has previously launched the Atto 3 electric sport-utility vehicle in Japan but delivered only about 700 units since January. Sales of the Atto 3 have faced tough competition from Nissan’s electric Leaf and the popular mini Sakura.
Expansion Plans
BYD plans to open 100 dealerships and showrooms in by 2025. The company also aims to introduce Seal sedan to the market next year.
Growth Opportunity
Breaking into Japan’s market provides BYD with new growth prospects amid increasing faced by Chinese carmakers in Europe and the US. The investigation into Chinese subsidies for EVs by the European Union highlights the challenges faced by Chinese automakers.
Consumer Perception
Analysts suggest that the Dolphin EV has a chance to succeed in Japan due to the improving quality of BYD’s cars and a decreasing bias against Chinese products among Japanese customers.
Charging System
The Dolphin EV will utilize the CHAdeMO charging system, which was developed in 2010 by five companies, including Toyota and Tokyo Electric Power. While CHAdeMO has become a minority charging system, BYD and Tesla’s charging systems have become the de facto standard in major markets.