BYD targets market growth

BYD is making a concerted push to gain further market share in Japan by almost doubling the size of its network there in the coming two years and introducing new models.

The Chinese electric vehicle (EV) maker’s plans come after it has struggled to infiltrate a market dominated by hybrids and domestic brands, reports Bloomberg.

BYD, which sold fewer than 1,500 passenger cars in Japan in 2023, has 51 locations across Japan, including 22 dealerships. The company’s target is for its footprint to cover 100 sites by the end of 2025.

A new version of its Atto 3 SUV, pictured, hit the market last month and a luxury sedan will be launched in Japan this year, followed by new models in 2025 and 2026.

A perceived resistance in Japan to battery EVs and foreign brands is seen as a barrier for BYD, reports Bloomberg.