Hyundai launches $18,000 EV in Japan to penetrate EV-wary market
CHIBA, Japan, Jan 10 (Reuters) - South Korea's Hyundai Motor (005380.KS) said on Friday it would introduce the cheapest compact electric car in Japan, to penetrate a market dominated by local giants with established petrol and hybrid vehicle technologies.
The Japan launch of the Hyundai Inster follows attemptsby Tesla (TSLA.O) and other foreign brands to enter a country seeing a slow take-up of EVs. With the Inster, Hyundai will take a low-price strategy akin to China's leading EV maker, BYD (002594.SZ).
