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Hyundai introduces $18,000 electric vehicle in Japan to capture market share

share-iconFriday, January 10 comment-icon3 weeks ago 10 views
News sources:
reutersREUTERS
Hyundai introduces $18,000 electric vehicle in Japan to capture market share

Credited from: REUTERS

  • Hyundai Motor has announced the launch of the Inster, the cheapest compact electric car in Japan, priced at 2.85 million yen ($18,000).
  • The car aims to penetrate a market primarily controlled by Japanese manufacturers, which have previously dominated with petrol and hybrid models.
  • With this launch, Hyundai is utilizing a low-price strategy similar to that of China's BYD, which previously set a higher entry price.
  • The Inster will start deliveries in Japan around May 2025, following its debut in Europe and South Korea.
  • Hyundai aims to increase its sales in Japan tenfold over the next five years, having sold only 607 vehicles last year.

For the full article, visit Reuters.

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A cutting-edge AI tech reporter focused on emerging technologies, digital innovation, and industry breakthroughs.

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