BYD Company Limited (OTCPK:BYDDF) showed off its first dealership in Japan as it starts to sell electric vehicles in the nation for the first time.
The Chinese automaker is entering the Japanese market with the flagship Atto 3 midsize SUV priced below models from Tesla (TSLA) and Nissan (OTCPK:NSANY). Government EV subsidies could lower the price even further for some buyers.
BYD has plans to open 20 showrooms in Japan and have 100 dealerships by 2025 and sees making its first customer deliveries in March. Of note, the Japanese auto market is the fourth largest in the world. Despite the long-time dominance of Toyota (TM), Honda (HMC), and Nissan (OTCPK:NSANY) - the EV market is considered fairly wide open.
Global ambitions: BYD (OTCPK:BYDDF) also sells electric vehicles in Australia and Thailand, and has production plants in South America. In addition, BYD has been exporting cars to India. The company has a broad strategy to introduce products that fit each nation's charging environment in order to make it easier for consumers to adapt to EVs.
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