BYD to launch new EV in Japan yearly through 2026 to gain foothold

Economy

The Japanese unit of Chinese electric vehicle giant BYD Co. said Friday it will launch a new model for the Japanese market every year through 2026 to gain a foothold in the country’s fledgling market for EV passenger cars.

The announcement came as BYD surpassed industry giant Tesla Inc. as the world’s biggest seller of EVs in the October-December quarter last year.

Despite the popularity of its cars overseas, the company remains relatively unknown in Japan, where all-electric vehicles account for only 2 percent of new car sales.

“We hope to launch new models by listening to customers’ needs an...

Kyodo News

Kyodo News