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BYD to duel with Tesla in Japan’s growing EV market

Credit: BYD

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BYD has officially begun selling EVs in Japan, joining the likes of Tesla and Nissan in selling a lineup of electric vehicles in the country.

While Japan has continually proven a challenging market for EVs to enter, this hasn’t stopped major brands like Tesla from jumping into the mix to attempt to change that. Following Tesla’s success in growing that market, BYD has now also decided to join.

BYD it is entering the Japanese market with its small electric crossover, the Atto 3, with deliveries beginning as soon as next month. Vehicles are available at BYD showrooms, with the first showroom opening in Yokohama and 19 more planned to open throughout the rest of 2023. In total, BYD plans to open 100 showrooms over the next 2 years in an effort to catch the wave of demand for EVs that has yet to reach the island nation.

While many have seen this move as forward-thinking and a great move for BYD, Tesla has shown time and time again that conquering the Japanese market is a near-herculean task.

As pointed out by Nikkei Asia, Japan’s total EV sales in 2022, while nearly triple the previous year, only amounted to just over 59,000 units. And in a country of over 125 million people, this is a drop in the bucket. EVs now total only 1.7% of the car market, and while this is the first time EVs have crossed the 1% mark in Japan, the segment still has significant growth to do.

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But BYD itself also faces a set of challenges as it enters the world’s third-largest economy. Perhaps foremost, as an unknown brand in what can be a very insular economy, BYD will likely face a steep climb as it battles with legacy brands. Secondly, while BYD’s first offering, coming in at an affordable 4.4 million yen ($33,800), certainly used to be leading Tesla and even Nissan in pricing, that is no longer the case.

Currently, the Japanese government’s incentive of 650,000 yen ($5,029) brings the price of the Tesla Model 3 down to 4.7 million yen ($36,369) and the price of the Tesla Model Y to 5.15 million yen ($39,841), a price that is a stone’s throw away from the BYD offering.

At the same time, Nissan has also made strides in making its EV offerings significantly more affordable. The incredibly popular Nissan Sakura now starts at 2.5 million yen ($19,330), the Nissan Leaf starts at 4.3 million yen ($33,246), and the top-of-the-line Nissan Ariya starts at a fairly competitive 5.4 million yen ($41,750).

It remains unclear if BYD’s venture into Japan will be a successful one, but it is clear that the market there is not as uncompetitive as it used to be. But with plenty of market share still available for EVs to pick up in the meantime, the Chinese brand is at least well positioned to “catch the wave.”

What do you think of the article? Do you have any comments, questions, or concerns? Shoot me an email at william@teslarati.com. You can also reach me on Twitter @WilliamWritin. If you have news tips, email us at tips@teslarati.com!

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Will is an auto enthusiast, a gear head, and an EV enthusiast above all. From racing, to industry data, to the most advanced EV tech on earth, he now covers it at Teslarati.

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Elon Musk

Tesla Board Chair discusses what is being done to protect CEO Elon Musk

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Credit: xAI

Tesla Board Chair Robyn Denholm met with Bloomberg this morning to discuss a variety of topics, but perhaps one of the most interesting was her comments on what is being done to protect company CEO Elon Musk.

After the assassination of right-wing political commentator Charlie Kirk this week, there have been concerns about Musk’s safety, as well as that of other high-profile business leaders and political figures.

Earlier this week, Musk said himself that his security detail would be increased significantly following Kirk’s death, a move that many investors and fans of the company had requested because of political violence.

Elon Musk assures Tesla investors he will enhance his security detail

“Definitely need to enhance security,” Musk said. Tesla spent $3.3 million on Musk’s security in 2024 and January and February 2025. For reference, Meta spent over $27 million on Mark Zuckerberg’s security last year, which is higher than any other tech CEO.

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During Denholm’s appearance on Bloomberg TV earlier today, she stated that the company has been focused on Musk’s security detail for “many years,” especially considering he is one of the richest people on Earth and holds an incredible amount of influence.

“It is something that we take very seriously; he takes it very seriously as well. So, again, from a board perspective, it is something we’ve discussed at length,” Denholm said.

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Denholm added that she believes “there is not anyone in a boardroom that is not touched by what has happened with Charlie Kirk.”

Although Musk’s political involvement has toned down significantly in the past, he still has enemies, especially based on groups that oppose him and the company specifically. Based on this week’s events, it feels that increased security is a necessary expense Tesla must account for.

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Investor's Corner

Tesla bear turns bullish for two reasons as stock continues boost

“I think from a trading perspective, it looks very interesting,” Nathan said, citing numerous signs of strength, such as holding its 200-day moving average and holding against its resistance level.

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Credit: Tesla Manufacturing

A Tesla bear is changing his tune, turning bullish for two reasons as the company’s stock has continued to get a boost over the past month.

Dan Nathan, a notorious skeptic of Tesla shares, said he is changing his tune, at least in the short term, on the company’s stock because of “technicals and sentiment,” believing the company is on track for a strong Q3, but also an investment story that will slowly veer away from its automotive business.

“I think from a trading perspective, it looks very interesting,” Nathan said, citing numerous signs of strength, such as holding its 200-day moving average and holding against its resistance level.

He also said he believes a rally for the stock could continue as it heads into the end of the quarter, especially as the $7,500 electric vehicle tax credit is coming to an end at the end of the month.

With that being said, he believes the consensus for Q3 deliveries is “probably low,” as he believes Wall Street is likely underestimating what Tesla will bring to the table on October 1 or 2 when it reports numbers for the quarter.

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Tesla shares are already up over five percent today, with gains exceeding nine percent over the past five trading days, and more than fourteen percent in the past month.

While some analysts are looking at the performance of other Mag 7 stocks, movement on rates from the Federal Reserve, and other broader market factors as reasoning for Tesla’s strong performance, it appears some movement could be related to the company’s recent developments instead.

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Over the past week, Tesla has made some strides in its Robotaxi program, including a new license to test the platform in the State of Nevada, which we reported on.

Tesla lands regulatory green light for Robotaxi testing in new state

Additionally, the company is riding the tails of the end of the EV tax credit, as inventory, both new and used, is running extremely low, generally speaking. Many markets do not have any vehicles to purchase as of right now, making delivery by September 30 extremely difficult.

However, there has been some adjustments to the guidelines by the IRS, which can be read here:

Tesla set to win big after IRS adjusts EV tax credit rules

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Tesla is trading at around $389 at 10:56 a.m. on the East Coast.

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Tesla lands regulatory green light for Robotaxi testing in new state

This will be the third state in total where Tesla is operating Robotaxi, following Austin and California.

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Credit: Tesla

Tesla has landed a regulatory green light to test its Robotaxi platform in a new state, less than three months after the ride-hailing service launched in Texas.

Tesla first launched its driverless Robotaxi suite in Austin, Texas, back on June 22. Initially offering rides to a small group of people, Tesla kept things limited, but this was not to be the mentality for very long.

It continued to expand the rider population, the service area, and the vehicle fleet in Austin.

The company also launched rides in the Bay Area, but it does use a person in the driver’s seat to maintain safety. In Austin, the “Safety Monitor” is present in the passenger’s seat during local rides, and in the driver’s seat for routes that involve highway driving.

Tesla is currently testing the Robotaxi platform in other states. We reported that it was testing in Tempe, Arizona, as validation vehicles are traveling around the city in preparation for Robotaxi.

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Tesla looks to make a big splash with Robotaxi in a new market

Tesla is also hoping to launch in Florida and New York, as job postings have shown the company’s intention to operate there.

However, it appears it will launch in Nevada before those states, as the company submitted its application to obtain a Testing Registry certification on September 3. It was processed by the state’s Department of Motor Vehicles Office of Business Licensing on September 10.

It will then need to self-certify for operations, essentially meaning they will need to comply with various state requirements.

This will be the third state in total where Tesla is operating Robotaxi, following Austin and California.

CEO Elon Musk has stated that he believes Robotaxi will be available to at least half of the U.S. population by the end of the year. Geographically, Tesla will need to make incredible strides over the final four months of the year to achieve this.

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