3 6 Ke·2025-11-07 14:54Core Points - BYD has launched a lightweight electric vehicle (EV) named "RACCO" specifically designed for the Japanese market, with a price expected to be below 2 million yen (approximately 93,000 RMB) [2][4] - Lightweight vehicles account for 40% of new car sales in Japan, and BYD aims to leverage this segment to boost EV adoption in a market where EV penetration is currently the lowest among developed countries [2][7] - The lightweight EV "RACCO" is set to be launched in the summer of 2026 and will comply with Japan's unique standards for lightweight vehicles, which include specific size and tax benefits [4][7] Market Context - The average retail price of lightweight vehicles in Japan is projected to be 1.63 million yen (approximately 75,800 RMB) in 2024, highlighting the importance of competitive pricing for EVs to gain market share [7] - BYD's competitive advantage lies in its ability to produce low-cost vehicles through vertical integration, starting from battery production [7][11] - The Japanese EV market is characterized by a low penetration rate of only 1-2% for new car sales, significantly lower than the approximately 20% in overseas markets, primarily due to underdeveloped charging infrastructure and high EV prices [7][8] Competitive Landscape - Other Japanese manufacturers, such as Suzuki, are also entering the lightweight EV market, with Suzuki planning to launch its own lightweight EV by 2026 [7][8] - There are signs of price competition emerging in Japan, with BYD and Toyota both reducing prices for their EV models in response to market dynamics [11] - The introduction of lightweight EVs is seen as a potential catalyst for increasing EV adoption in Japan, aligning with urban driving needs and addressing the limitations of current EV range [8]