BYD has made notable strides in Japan’s electric vehicle (EV) market, where the first half of 2024 saw the company secure nearly 3% of the country’s EV market share.

BYD’s exceptional accomplishment is noted considering it only launched its first EV in the country back in January 2023. According to data from the Japan Automobile Importers Association (JAIA), while overall car imports in Japan fell by 7% year-over-year to 113,887 units, EV imports surged by 17%, accounting for nearly 10% of all imported vehicles. BYD led this charge, with its passenger car imports skyrocketing by 184% to 980 units compared to the same period in 2023.

BYD’s success in Japan can be attributed to its strategy of offering a wide range of affordable EVs by introducing the Atto 3 SUV, Dolphin, and Seal. These EV models compete directly with established Japanese EV offerings, with prices ranging from ¥3.63 million (about $24,500) for the Dolphin to ¥5.28 million (around $33,100) for the Seal.

Furthermore, BYD’s growth in Japan is particularly influential given the country’s historically challenging market for foreign brands. As of now, EVs take 1.6% of Japan’s passenger car market, with imported brands holding a 27% share of the BEV market.

As for BYD’s plans for the Japanese EV market, the company aims to nearly double its sales outlets from 55 to 90 by the end of 2024. Also, BYD aims to sell 30,000 units in Japan by 2025, which would further take the market share of domestic automakers.

Yet, BYD’s journey in Japan has not been without challenges. Recent data displays a slowdown in June sales, attributed to reduced government subsidies. Despite this, BYD’s Japan president, Atsuki Tofukuji, remains optimistic, stating that new EV models will help boost sales.

Read More: BYD Expands Presence In Japan With New Seal EV Model Amidst Competitive Market

As the success of BYD in Japan reflects a broader trend of growing acceptance for imported EVs despite hurdles in North America and Europe with new tariff rates, the responses from Japanese automakers will be watched as the new competition is ramping up on its home turf.

Want to learn more about EV? Thinking of buying an EV? Head over to EV.com and discover more.

EV.com is the world’s 1st Electric Vehicle (EV) marketplace that aims to promote zero-emission mobility by providing a platform for consumers to learn about, compare, and purchase EVs.