Part 5/8:
Several factors contribute to the stark decline in Japan's EV market:
High Prices: Electric vehicles in Japan are priced significantly higher—often more than double their counterparts in China. This pricing strategy does not resonate with price-sensitive consumers, especially when attractive and affordable options are readily available from foreign brands.
Misinformation Campaigns: Reports suggest that Toyota has been engaged in a misinformation campaign aimed at steering consumers away from EVs, particularly in Japan. This strategy seems to be having a chilling effect on the growth of the EV market domestically.