BYD (Build Your Dreams) publicly-listed Chinese conglomerate manufacturing company headquartered in Shenzhen, Guangdong, will start selling battery electric cars in Japan next year, marking its entry into Japan’s passenger car market, the company said in a statement on Thursday.
The company has two major subsidiaries, BYD Automobile and BYD Electronic, Company focuses on automobiles, buses, electric bicycles, trucks, forklifts, solar panels and rechargeable batteries industries.
The Shenzhen-based auto and battery producer, which includes Warren Buffett’s Berkshire Hathaway as an investor, held a brand conference in Tokyo and announced plans to start selling a small all-electric battery car called the ATTO 3 at the start of next year, followed by two additional EV models later in 2023.
The move comes as part of BYD’s current push to establish a presence in the global marketplace.
It has already started selling electric cars and plug-in electric hybrids in markets around the world, including Norway, New Zealand, Singapore, Brazil, Costa Rica and Colombia.
BYD grew quickly within ten years capturing more than half the world’s mobile-phone battery market and becoming the largest Chinese manufacturer of all types of rechargeable batteries.
The company topped the 2010 Bloomberg Businessweek Tech 100 list, a list of large, fast-growing tech companies. Replacing work done by machines with cheap, local labour lowered costs. In 2010 it was the sixth largest in terms of sales volume. Seeking to utilise BYD battery production resources, it sells electric cars in addition to gasoline-powered models.
A maker of both electric cars and buses, BYD also builds batteries which it has portrayed as the industry’s safest and which it is close to supplying U.S. EV peer Tesla Inc, BYD’s executive vice president has said.