BYD takes 20% of Japan’s EV imports in January after launching just last year
Watch out, Toyota. BYD continues its dominant overseas expansion after accounting for over 20% of Japan’s EV imports last month. After launching just last year, BYD is already making its presence known as Japan lags behind the auto industry’s shift to electric.
BYD accounts for one-fifth of Japan’s EV imports
According to new data from the Japan Automobile Importers Association (JAIA) released Wednesday, Japan’s total EV imports reached 1,186. That number is up 11% from last year.
Of the 1,186 electric cars imported into the nation, BYD accounted for 217 of them. Although this is still a small number in the grand scheme of things, it’s impressive given that BYD just launched EVs in the country last year. More importantly, Japan isn’t known for its imports.
BYD officially entered Japan’s auto market last January, launching its affordable Atto 3 (Yuan Plus in China) electric SUV.
In September, BYD launched another low-cost EV, its Dolphin electric hatch. Starting at ¥3.63 million ($24,500), BYD aims to rival Toyota on its home turf.
With a 70 kWh battery, the Dolphin EV can travel up to 250 miles (400 km). An extended range version (150 kWh battery) offers up to 295 miles (476 km) range, starting at ¥4 million ($27,000).
BYD plans to launch its Seal electric sedan this spring while expanding its network to include over 100 outlets by 2025.
The Chinese automaker already accounted for over 1% of Japan’s total auto sales last month. The growth comes as domestic automakers like Toyota, Honda, Mitsubishi, Nissan, and Mazda lag behind the market.
Of the over 11.2 million vehicles Toyota sold last year, only 104,000, or less than 1%, were all-electric. Meanwhile, Tesla’s Model Y topped the RAV4 and Corolla for the best-selling car title globally last year as the industry shifts to EVs.
Electrek’s Take
Japan is not known for importing vehicles. Domestic automakers like Toyota and Nissan dominate the region’s auto sales.
In the first half of last year, imports accounted for only 5% of Japan’s total market. And it was the first time import sales were up in two years.
Most imports were luxury brands like BMW, Mercedes-Benz, and Audi. BYD’s growing presence (although still relatively small) is meaningful. As the automaker ramps exports, BYD will be a brand to watch in Japan.
Japan’s reluctance toward all-electric vehicles is beginning to show as EV imports continue building. BYD and others look to take advantage as buyers look for the latest tech and efficiency.
Source: CarNewsChina, JAIA
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Tesla is going to build a new Megafactory in Texas near Houston, according to a tax abatement agreement with Waller County.
At the time of writing, Tesla had yet to comment on the new project, but the Waller County Commissioners Court confirmed the project on Wednesday when they approved a tax abatement deal with the company:
Under the proposed agreement, Tesla will receive tax abatements from Waller County based on property improvements. The deal includes $44 million in facility improvements and $150 million in Tesla manufacturing equipment that Tesla will install. The next phase involves a new $31 million distribution facility with about $2 million in Tesla distribution equipment and building upgrades.
Tesla is going to take over a 1-million-sq-ft building that it already held the lease on at the Empire West industrial park near Katy, Texas – just outside of Houston.
Logistics company DB Schenker occupied the space where it handled parts for Tesla, but it will move out and Tesla plans to build Megapack production lines at the site:
Tesla will operate a new Megapack battery storage manufacturing facility at a 1 million-square-foot building, which was initially constructed with no tenant on speculation that it would attract jobs and economic development.
Tesla has previously referred to plants producing Megapacks as “Megafactory”. The company already operates one in Lathrop, California, and one in Shanghai, China, where it just started production.
Those factories are set up for a production capacity of 40 GWh worth of Megapacks per year.
It’s not clear if Tesla plans for a similar capacity at this new factory, but the county announced project should result in creating 1,500 jobs.
In addition to the existing building, the project will include the construction of an additional “600,000-square-foot distribution facility with some manufacturing capabilities.”
Unlike its automotive business, Tesla’s energy business has been growing at an impressive pace – although prices and margins have come down last year.
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![Is Genesis taking notes from Porsche? New GV60 Magma caught with the Taycan [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/03/Genesis-GV60-Magma-Porsche-2.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
Genesis is gearing up to unleash its alter ego with its upcoming Magma lineup, its debut into the world of high-performance luxury vehicles. First up is the Genesis GV60 Magma, due out later this year. As testing wraps up, the GV60 Magma was spotted alongside none other than the Porsche Taycan.
The first dedicated Genesis EV model, the GV60, will kick off another new chapter for the Korean luxury automaker.
Genesis unveiled the GV60 Magma last March, claiming it will kick off “the brand’s expansion into the realm of high-performance vehicles.” The performance EV includes an improved battery, chassis, and motor for added performance.
The Magma model boasts a wider, lower stance for more control. Other key upgrades include a wider front air intake to help cool the batteries, motor, and brakes. It also includes air curtains to maximize efficiency and an added roof fin channels air to the rear wing, generating downward force.
Genesis upgraded the interior to match the GV60 Magma’s luxurious, sporty design. It includes unique sports car-like bucket seats with exclusive “double-diamond stitching” in the Magma orange and titanium coloring.
Genesis GV60 Magma spotted with the Porsche Taycan
With its official debut coming up, the sporty Genesis GV60 Magma was spotted testing alongside a Porsche Taycan and Hyundai’s IONIQ 5 and IONIQ 6 N models.
Despite the camouflage, the video from CarSpyMedia reveals a few new design elements, like the two-line headlight featured on the updated GV60 model.
Genesis will launch the GV60 Magma later this year in its home market, followed by the US, Europe, and others. Production is scheduled to start in the third quarter of 2025.
Will the Genesis GV60 Magma keep up with the Porsche Taycan or Tesla Model S Plaid? Priced and specs will be revealed closer to launch, but it will sit above the Performance AWD trim, which starts at $69,900 in the US. With up to 429 horsepower and 516 lb-ft of torque, it can hit 0 to 60 mph in 3.7 seconds.
| Horsepower | 0 to 60 mph (seconds) |
Starting Price | |
| Genesis GV60 Performance | 429 | 3.7 | $69,900 |
| Genesis GV60 Magma | ? | ? | ? |
| Porsche Taycan | 402 | 4.5 | $99,400 |
| Porsche Taycan Turbo GT (with Weissach Package) |
1,092 | 2.1 | $230,000 |
| Tesla Model S Plaid | 1,020 | 1.99 | $89,990 |
In comparison, the Porsche Taycan starts at $99,400 with up to 402 hp and a 0 to 60 mph time in 4.5 seconds. The Taycan Turbo GT, equipped with its Weissach package, packs 1,092 hp for a 0 to 60 mph sprint in just 2.1 seconds, but it costs $230,000.
Tesla’s Model S Plaid starts at $79,990 and can accelerate from 0 to 60 mph in 3.1 seconds with 1,020 horsepower. Which performance EV are you choosing?
Source: CarSpyMedia
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