TOKYO, June 25 (Reuters) – BYD, a Chinese car company, has begun selling its third electric vehicle in Japan. The new car is known as the Seal. It is BYD’s most expensive vehicle in Japan thus far.BYD started taking orders for the Seal in Japan on Tuesday. The rear-wheel drive version costs 5.28 million yen ($33,111.75).
In China, this car starts at 179,800 yuan ($24,759.70).BYD is becoming more popular in Japan. This is a worry for Japanese car companies, which are struggling in China against BYD and other Chinese electric car brands.In Japan, BYD only sells battery-powered cars.
Aside from the concerns raised by Japanese car manufacturers, it is clear that China’s entry into the Japanese electric vehicle automobile industry will increase competition in the existing business ecosystems and may cause a global outage of electric vehicles. It is also possible that the price of electric vehicles will fall throughout Japan or in eastern South Asian countries.
However, doing so will only increase market competition among electric manufacturing companies, potentially igniting a cold war between the Japanese and Chinese electric vehicle industries.
It is obvious that the world needs to find an alternative to China and stop their increasing dominance in the electric vehicle market, as it is a global market in New Market that is very useful and worth trillions of dollars. The United States is not demonstrating anything or offering any opinions on this topic because it is also facing competition in the United States only with their Tesla.
