BYD, China's leading EV manufacturer, is seeking win-win opportunities in Japan's auto market as the company is set to start selling its first battery EV in the country, reported China Daily on January 17.

The auto giant will roll out an electric sports utility vehicle "ATTO 3" in Japan starting January 31. It is also planning to introduce two more models later in the year and to have more than 100 dealerships in Japan by the end of 2025.

Liu Xueliang, head of BYD Japan, said in a recent interview with Xinhua, "What BYD is trying to do in Japan is to enable a win-win outcome for BYD's business development and the Japanese EV industry."

BYD first entered the Japanese market in 1999 with battery businesses. It then introduced electric buses in 2015, which now accounted for 70% of Japan's electric bus market.

Despite boasting a mature auto market, Japan has lagged behind its global peers in the shift towards EVs as gasoline-electric hybrid models remained more popular.

Considering Japan's significantly low EV penetration rate, the change in auto consumption structure will bring opportunities for the pure EV market, Liu said, expecting the Japanese EV market to gather steam in the coming years.

The country has aimed for all vehicles sold to be at least part-electric by 2035, along with increasing subsidies for EV purchases and reduced restrictions on the installation of charging facilities.

Citing a BYD survey that showed 30% of Japanese consumers are currently willing to buy EVs, Liu pointed out that a major hindrance for Japan's market is a lack of available models to consumers.

Last year, Japanese automakers launched two light EVs, which reported robust sales, showing strong EV demand in the country, Liu noted.

With a cruising distance of 485 km, BYD's ATTO 3 model will be sold at 4.4 million Japanese yen ($34,320).

Earlier data showed BYD sold nearly 1.87 million cars in 2022, surging 152.5% year-on-year, according to China Daily.

(HX Chen)