Japan Electric Vehicle Market Top Key Players- Toyota, Daihatsu, Skydrive, COGICOGI, NExT-e Solution, Luup, WeCharge, Aspark, Nissan, Honda, Suzuki, Yamaha, Kawasaki

The Japan Electric Vehicle Market size is estimated to be USD XX billion in 2020, with a growth rate of XX% by 2026. Japan plans by 2035 that vehicles brought by customers will only ship electric or hybrid vehicles. . EV sales are impacted by COVID, but are expected to grow in the future. Attractive plans, infrastructure and incentives from the government to satisfy customers who buy EVs.

Automotive such as Honda, Suzuki, Mitsubishi, Mazda, and Isuzu Kawasaki started research and development programs before anyone else thought and started testing. Honda announced the 1997 Honda EV Plus, which is in limited production and is licensed for lease only in California.

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JAPAN ELECTRIC VEHICLE MARKET DYNAMICS

• Japanese car company Nissan has announced the first mass-produced car launched in 2009 to the global market. Sold in European, American and Japanese markets. This means that Japan entered the market before any other country. To date, more than 5 million units have been sold. The next generation segment has already been introduced to the market.

• The automotive sector appears to be the most promising area in terms of economic growth and national GDP. The country was always thinking about the development of new technologies. The Japanese government provides very attractive subsidies for plug-in hybrid vehicles (limited) and battery electric vehicles (unlimited) for manufacturers as well as battery manufacturing and EV manufacturing.

JAPAN ELECTRIC VEHICLE MARKET SEGMENT

By Technology
• Hybrid Electric Vehicles
• Plug-In Electric Vehicles
• Battery Electric Vehicles

By Vehicle Type
• Passenger Vehicles
• Commercial Vehicles
• Two Wheelers
• Others

By Powertrain
• Series Hybrid
• Parallel Hybrid
• Combined Hybrid

By Class
• Mid-Priced
• Luxury

By Vehicle Drive Type
• Front Wheel Drive
• Rear Wheel Drive
• All-Wheel Drive

IMPACT OF COVID ON JAPAN ELECTRIC VEHICLE MARKET

• The new virus came as a global pandemic and has also affected the global economy and the Japanese economy. From supply chains to stocks, from raw materials to finished goods labor to automated maintenance, from sales to distribution, the typical business of the automotive industry has all been disrupted. Disruption of the sales graphs of many companies resulted in huge losses. In particular, the start-up was severely damaged by the sudden closure of the market.

• Because Japan is the world's largest automobile hub manufacturing plant, production and export were suspended and blocked, which had a significant impact on the economy. The Japanese economy declined 5.1% in the first quarter. Exports fell more than 22%. This is one of the biggest blows to the economy. Toyota and Mitsubishi said in their report that they see a reduction in annual profits of more than 80%.

KEY PLAYERS IN JAPAN ELECTRIC VEHICLES

Old player in Japan already has a deep root in technological advancement for electric vehicles. Now some startups are also coming forward with new concepts, type, application, and out of the box ideas for designing, manufacturing and application of electric vehicles.

Key Players:

• Toyota
• Daihatsu
• Skydrive
• COGICOGI
• NExT-e Solution
• Luup
• WeCharge
• Aspark
• Nissan
• Honda
• Suzuki
• Yamaha
• Kawasaki

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This release was published on openPR.