China's BYD has officially unveiled RACCO, a kei EV for the Japanese market. Against a backdrop of its ¥1.99 million effective price, the impact of subsidies and competition from domestic manufacturers, the company has begun a new contest in Japan's kei-car market.
BYD has launched the RACCO kei EV, announcing that the entry model has a list price of ¥2.145 million and an effective out-of-pocket cost of ¥1.99 million after subsidies. The lineup comprises a mid-range model priced at ¥2.398 million and a top-end model at ¥2.497 million.
BYD JAPAN President Liu Xueliang (劉学亮) and other executives attended the presentation. Alice Hirose (広瀬アリス), a popular entertainer, was appointed as the brand ambassador, and the event included a staged unveiling of the vehicle. Although the vehicle can be purchased for ¥1.99 million by using national subsidies, some observers said disparities could arise depending on the eligibility requirements for municipal subsidies.
BYD's cumulative sales in the domestic market have surpassed 10,000 units, but its market share is said to remain below 0.1%. The company is therefore taking on Japan's market for kei EVs designed specifically for the country amid headwinds surrounding the subsidy system. BYD said that, in this environment, it places priority on delivering results with products that meet customer needs.