3 6 Ke·2025-09-19 03:32Core Insights - BYD plans to launch its first plug-in hybrid vehicle (PHV) in the Japanese market around January 2026, specifically the "Sea Lion 6" model, as part of its strategy to capture market share in Japan [1][6] - The company believes there is significant demand for alternatives to electric vehicles (EVs), particularly among consumers hesitant about EVs due to concerns over range and charging infrastructure [1][4] - BYD's strategy includes promoting PHVs as a viable alternative to EVs, especially in markets like Japan where hybrid vehicles (HVs) are already popular [2][4] Group 1 - The PHV market is seen as a bridge between EVs and HVs, offering the ability to charge externally while also being able to run on gasoline, which alleviates range anxiety [2][9] - BYD's PHV sales are expected to be significant, with projections indicating that 58% of its total vehicle sales in 2024 will be PHVs, amounting to approximately 2.48 million units [4] - The company aims to position its PHV offerings at a competitive price point, below 5 million yen (approximately 241,300 yuan), to attract consumers in Japan [2][4] Group 2 - The global market share of PHVs is comparable to that of HVs, with PHVs accounting for 7.6% of new car sales in the first half of 2025, closely trailing EVs at 14.1% [7] - In China, PHVs have a market share of 15.9%, significantly higher than HVs at 3.0%, indicating strong consumer acceptance [7] - The compatibility of PHVs with advanced automotive technologies, such as autonomous driving, positions them favorably in the evolving automotive landscape [9][11] Group 3 - The environmental impact of PHVs is a critical factor for their future adoption, with estimates showing that PHVs have 20% higher CO2 emissions than EVs but 10% lower than HVs [11] - The development and sales strategies for PHVs must align with regional policies and incentives, as seen in different market responses to subsidies for PHVs in countries like China and Australia [11]