Core Viewpoint - BYD has initiated a significant price reduction for its electric vehicles (EVs) in Japan, aiming to expand its market share amid challenges in the Chinese market [4][5][9]. Group 1: Price Reduction Details - The price reduction ranges from 500,000 to 1,170,000 Japanese yen (approximately 24,200 to 56,700 Chinese yuan) [5][7]. - The Dolphin model will become the cheapest EV in Japan, with a minimum price of 2,492,000 yen (approximately 120,700 yuan), undercutting Nissan's Sakura by 100,000 yen [7][8]. - The Seal model's four-wheel-drive version will see a price drop of 1,170,000 yen, bringing its price down to 4,550,000 yen (approximately 220,500 yuan) [7]. Group 2: Market Context and Strategy - BYD's sales in Japan from January to July increased by 50% year-on-year, reaching 1,936 units, indicating strong performance in a growing market [11]. - The company is responding to intensified competition in the Chinese market, where its growth has slowed, with a global new car sales increase of only 0.6% in July [9][11]. - The price cuts are part of a broader strategy to stimulate sales in Japan, where the EV market is expected to grow, especially with government subsidies potentially lowering the Dolphin's price to 1,490,000 yen (approximately 72,200 yuan) [8][11]. Group 3: Competitive Landscape - Other automakers, including Hyundai and Tesla, have also announced price reductions for their EVs in Japan, intensifying competition in the market [12][15]. - Hyundai's IONIQ 5 and KONA models have seen significant price cuts, with the IONIQ 5 reduced by 1,580,000 yen to 3,910,000 yen (approximately 189,400 yuan) [14]. - Japanese automakers are preparing to launch new EV models to counter the influx of competitively priced imported vehicles [16].