China’s BYD is planning an assault on one of the quirkiest parts of Japan’s car market, highlighting its bold global ambitions by challenging the likes of Toyota in its own back yard.
The leading electric vehicle maker, whose cars overtook Tesla in European sales last month, plans to release a low-cost battery-powered kei car in Japan next year. The unique class of boxy minicars was worth $18bn in sales there last year and makes up about 40 per cent of the world’s fourth-largest car market.
BYD aims to loosen the decades-long dominance of the segment by Japanese carmakers including Toyota, Honda, and Nissan.
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