Several factors are driving the growth of the electric vehicle market in Japan. Companies like Toyota, Nissan, and Mitsubishi are investing heavily in the development of EVs as well as in the development of advanced battery technology.
With its strong automotive industry, Japan Government also implemented various policies to support the domestic EV market growth. The various policies are such as the country offering tax incentives for EV buyers, and subsidies for installing charging infrastructure.
To support the further sustainable growth of the country, the government has set a target of 40% of new vehicles to be sold in EVs by 2030 with the implementation of strong measures to achieve this goal.
Some of the leading companies in Japan are:
- Toyota: One of the largest automakers in the world and has been at the forefront of EV development in Japan. Toyota Prius hybrid and Toyota Mirai fuel cell vehicles are some of the popular EVs. Toyota bZ4X is some of the first all-electric vehicles with positive reviews from consumers.
- Nissan: It is another leading automaker in Japan with the popular Nissan Leaf EV. The company is active in the EV market since 2010 with offers in several other EVs such as the Nissan e-NV200 van and Nissan Ariyan SUV.
- Mitsubishi: One of the leading automakers in Japan for producing EVs in the market. The company is known for the Mitsubishi i-MiEV hatchback, with one of the EVs on the market. The company also offers other EVs such as the Outlander PHEV SUV and the Eclipse Cross PHEV crossover.
- Honda: The company is recognized for its EV models such as the Honda Fit EV hatchback, including the Honda Clarity fuel cell vehicle and the Honda E hatchback.
The market share in 2021:-
Several key factors in the EV market in Japan are:-
1. Government Support: Implementing several policies to support the domestic EV market growth including tax incentives for EV buyers, subsidies for installing charging infrastructure, and targets for EVs adoptions.
2. Strong automotive industry: Japan is home to leading automakers including Toyota, Nissan, and Mitsubishi. The companies invested heavily in the EVs development and are also at the forefront of advanced battery technology.
3. Customer demand growing: EV popularity is growing in Japan with more consumers embracing the technology. The EVs adoption is also one of the major Japanese government targets for raising consumer awareness of the EVs benefits and the driving demand for vehicles.
4. Technology advancement: The development of advanced battery technology is one of the key factors in driving the EV market growth in Japan. Toyota, Nissan, and Mitsubishi are some of the companies investing heavily in advanced battery development to make EVs more affordable and accessible to consumers.
5. Focus on sustainability: A growing focus on sustainability in Japan with consumers increasingly concerned about the driving habits’ impact on the environment. EV adoption is a major way for reducing emissions and promotes a sustainable future supporting the driving demand for vehicles.