TOKYO (Kyodo) — Suzuki Motor Corp. said Tuesday it will launch an ultracompact electric vehicle model in November in Japan in the hope of enticing customers with affordable prices in intensifying competition with BYD Co. and other rivals in the segment.
Set to go on sale on Nov. 16, the e SKY offers a cruising range of around 310 kilometers on a single charge. After a government subsidy of 568,000 yen ($3,600), the prices of the small EV start at 1.55 million yen.
Suzuki has set a monthly sales target of 1,000 vehicles.
“This is an answer that only Suzuki, which has continued to build and refine minicars, could have arrived at,” President Toshihiro Suzuki said at an event for the new model in Tokyo.
Suzuki, one of Japan’s two largest minicar makers, is making its long-awaited entry into the EV segment as competition intensifies.
In July, China’s BYD became the first overseas carmaker to enter Japan’s mini EV market, launching the Racco with a starting price of around 2 million yen after government subsidies. About 650 Raccos had been sold by the end of September, according to the Japan Light Motor Vehicle and Motorcycle Association.
Among other EV models, Nissan Motor Co.’s Sakura is available from about 1.87 million yen and Honda Motor Co.’s N-ONE e: from around 2.12 million yen, both helped by government subsidies.
Suzuki, a latecomer to the segment, saw no need to be the first to enter the market, the president said.
“While learning from other automakers, we discussed what a mini EV should be and took time to develop it carefully,” he said.
