Japan Electric Vehicle Market Top Key Players – Toyota, Daihatsu, Skydrive, COGICOGI, NExT-e Solution, Luup, WeCharge, Aspark, Nissan, Honda, Suzuki, Yamaha, Kawasaki
The size of the Japan electric vehicle market is estimated to be US $ XX billion in 2020 and a growth rate of XX% in 2026. By 2035, Japan plans to release customer-acquired vehicles only to electric and hybrid vehicles. EV sales are affected by COVID, but are expected to increase again in the future. Attractive government plans, infrastructure and incentives to get customers to buy EVs.Daihatsu started producing cars for Pavilion, which worked on EVs in the 1970s, and produced only locomotives. In 1973, he showed off his motorcycle at the Tokyo Motor Show. Mazda owns the first mass-produced electric vehicle named MX30, which belongs to the 2020 hybrid compact SUV segment. Mitsubishi entered this division with the I MieV in 2009. They also encourage customers to lower prices and buy electric vehicles. Subaru launched an electric car in 2006.
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JAPAN ELECTRIC VEHICLE MARKET DYNAMICS
• Nissan, a Japanese automobile company, has announced to the global market the first mass-produced vehicles launched in 2009. 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 state has always come up with new technological advances. The Japanese government is offering very attractive subsidies to manufacturers for plug-in hybrid vehicles (limited) and battery-powered electric vehicles (unlimited), as well as battery manufacturing and EV production.
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 has also affected the global and Japanese economies that have become pandemic around the world. From raw materials to finished products, to automated maintenance of labor, from sales to distribution, everything from raw materials to finished products in the supply chain has been a hindrance to the normal operation of the automotive industry. The sales graphs of many companies were disturbed and suffered huge losses. Startups were hit hard by the sudden market closure.
Since Japan is the world's largest automobile hub and one of the manufacturing plants, Japan's production and exports were interrupted and the blockade had a major impact on the economy. The Japanese economy shrank 5.1% in the first quarter. Exports have fallen by more than 22%, which is one of the biggest blows to the economy. In the report, Toyota and Mitsubishi said they expect annual profits to decline by 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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