Japan Inc. investing big in electric cars

November 9th, 2010By Category: Work Tips

Tesla Motors is a hot start-up company based in Silicon Valley that is fast catching the eye of those tracking the future of the automobile industry. The company designs, manufactures and sells electric cars and is most famous for its Roadster.

Tesla has caught the eyes of Japanese companies. Toyota has already backed the company to the tune of $60 million and now Panasonic has said it has invested $30 million, eyeing an expansion in the global and local market for electric vehicles.

Tesla opened its first Asian showroom in Aoyama, the fashionable Tokyo neighborhood, hoping to woo rich buyers before eventually widening its appeal with cheaper models.

In addition to that, another Japanese manufacturer, Mitsubishi Motors, will start selling its i-MiEV electric vehicles through electronics retailers Bic Camera and Yamada Denki.

Under their sales partnership, Bic Camera will exhibit the i-MiEV at its outlets and conduct sales promotion campaigns alongside other electronic products such as Blu-ray players and iPads. Bic Camera stores will then introduce customers considering buying the EVs to Mitsubishi dealerships.

Last week GaijinPot looked at the evolution of consumer electronics and what it means for Japan. Like consumer goods, the automobile industry is changing. Carmakers can see they can make some money on this, and they don’t want to be the last to jump on. The electric car has the potential to make the Japanese automobile sexy again.

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Author of this article

George Stobart

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