TOKYO, May 14 (Xinhua Silk Road) -- A joint venture (JV) led by Chinese automaker Chery Automobile plans to launch electric vehicle (EV) sales in Japan, aiming to tap growth potential in the country's still-developing EV market.
The JV, established by Chinese and Japanese partners, plans to introduce a new EV brand tailored for Japanese consumers. The vehicles will incorporate Chery's EV technologies developed for the Chinese market, including advanced driver-assistance systems, and will target Japan's mass-market segment.
The JV aims to roll out four EV models in Japan by 2029. Initial production will take place at a factory operated by China's Jiangsu Yueda Automobile Group, one of the JV's partners, while local production in Japan is also under consideration after 2030.
Japanese auto accessories retailer Autobacs Seven, one of the Japanese partners in the JV, has confirmed its investment in the project. Its nationwide retail and maintenance network is expected to support vehicle sales and after-sales services across Japan.
The move comes as Chinese EV makers accelerate expansion into Japan. BYD entered Japan's passenger EV market in 2023 and has steadily expanded its dealership network since then.
Tang Jin, senior chief researcher at Mizuho Bank specializing in the automotive industry, said that Chery aims to build trust among Japanese consumers by partnering with a local company and leveraging Autobacs Seven's nationwide store network.
He added that Japan's EV market still has considerable room for growth because EV penetration remains relatively low compared to the country's overall automobile market size.
(Contributed by Li Shimeng, edited by Duan Jing, duanjing@xinhua.org)
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