Chinese State-Owned Automaker GAC To Enter Japan's EV Market After BYD: Report

Benzinga_recent_news12-11 18:00

One of China's state-owned automakers, Guangzhou Automobile Company (GAC), is reportedly planning to sell its EVs in the Japanese car market. GAC will offer its EVs in the market next year, aiming for...

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The company will offer its Aion UT and Aion V SUV, with the Aion UT commanding a price of around 3.3 million Yen or $21,000, and will sell the vehicles through Japan-based M Mobility, the report says.\nChinese EV giant BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) recently announced its entry into the Japanese ‘Kei' car market with the Racco EV. The Kei car segment comprises vehicles that are smaller in size than mainstream vehicles and offer better tax benefits, though the benefits have reduced in recent times.\nBYD is also said to be targeting the launch of the Racco in the European market as the automaker is awaiting a green light by EU regulators, who have been mulling regulations to allow European-made compact vehicles, dubbed the E-Car class, to be sold in the region.\nMeanwhile, President Donald Trump also announced he had approved the production of \"really cute\" compact cars that he saw in South Korea and Japan, made by Japanese automakers like Toyota Motor Corp (NYSE:TM) and Honda Motor Co. Ltd. (NYSE:HMC).\nThe administration has recently been touting affordability in the industry as it rolled back Corporate Average Fuel Economy (CAFE) standards, a move that was hailed by Ford Motor Co. (NYSE:F) CEO Jim Farley.\nCheck out more of Benzinga’s Future Of Mobility coverage by following this link.\nRead Next:\nPhoto courtesy: Robert Way / Shutterstock.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.11","shortVersion":"4.35.11","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2590940105","isCrawlerRequest":true}