The Japan electric car market is projected to grow at a significant CAGR during the forecast period (2019-2025). The market growth is attributed to the supporting government policies. The government has planned to phase out gasoline-powered electric cars by mid-2030, which will ultimately drive the electric car industry in Japan.
Moreover, the government's plan to double the EV subsidy will further drive the market growth. For instance, in November 2020, the Japanese government has announced to double its subsidies for battery-electric vehicles as part of a supplementary budget for 2020. The maximum amount per BEV is to be raised from 400,000 yen ($3,828) to 800,000 yen ($7,656). The required prior condition to avail subsidy is that the vehicles are to be charged exclusively with electricity from renewable energy.
Browse the full report description of "Japan Electric Car Market Size, Share & Trends Analysis Report by Vehicle Type (Hatchback, Sedan, and SUV), By Propulsion Technology (Battery Electric Car, Plug-in Hybrid Electric Car, and Fuel Cell Electric Car), By Battery Type (NiMH, Li-ion, Other), and Forecast 2019-2025" at https://www.omrglobal.com/industry-reports/japan-electric-car-market
Market Coverage
Key questions addressed by the report
Japan Electric Car Market Report Segment
By Vehicle Type
By Propulsion Technology
By Battery Type