BYD is an ambitious EV maker based in China, and has this week unveiled its plans to penetrate the Japanese market. Japanese buyers will soon be able to buy the Atto 3, Dolphin, and Seal.
The Atto 3 will be the first to go on sale in Japan, starting in 2023. The Dolphin will follow it in the middle of the year, and the Seal in the second half, according to the company’s press release.
BYD is more than an EV maker; it produces EV components like batteries and chips for other companies. It will reportedly supply its new Blade battery to Tesla for the Model Y in 2023. Investors in BYD include Berkshire Hathaway, run by the legendary Warren Buffet, with 7.7 percent shareholding.
Describing his company’s progress in a press release, chairman of BYD Wang Chuanfu said in a press statement, “As one of the first enterprises to develop electric vehicles in the world, BYD has accumulated 27 years of expertise and experience in the field of new energy vehicles, and has mastered the advanced technologies spanning batteries, electric motors, electronic control systems, and automotive-grade chips.”
There were recent news reports that BYD outsold Tesla recently, but we debunked the claim here. However, it remains one of the biggest competitors to Tesla. It sold a total of 134,036 EVs in June, including hybrid cars, more than three times its sales in the same period last year. It sold 641,350 EVs in the first half of 2023.
BYD already has a presence in Japan, selling batteries, electric buses, electric forklifts, etc. Its shares on the Hong Kong stock exchange have gained 27 percent within the last year, and the company is now worth more than GM and Ford put together, reports Forbes.