Latest news with #KGMotors
Time of India
18 hours ago
- Automotive
- Time of India
How this $7,000 EV is said to be busting the 'biggest' myth about cars in Japan
A Japanese startup, KG Motors , is aiming to boost Japan's electric vehicle (EV) market with an ultra-compact, affordable one-seater EV called the mibot, according to Bloomberg. Resembling a futuristic golf cart, the mibot is designed for Japan's narrow streets and has already pre-sold over half of the 3,300 units planned for delivery in 2027. This puts KG Motors on track to surpass Toyota, which sold around 2,000 EVs in Japan in 2024. This reportedly puts KG Motors on track to sell more EVs in Japan than the world's biggest automaker, Toyota Motor Corp., which shifted around such 2,000 vehicles in all of 2024. In a country where EVs are still a rare sight, KG Motors is trying to bust a burgeoning myth: That Bigger is Better. 'Cars are simply too big,' said Kazunari Kusunoki, KG Motors' founder and CEO, as quoted by Bloomberg. The mibot, priced at ¥1 million ($7,000) before tax, is half the cost of Japan's popular Nissan Sakura EV. It offers a 100-kilometer range, a five-hour charge time, and a top speed of 60 km/h. Production is set to begin in October at a new factory east of Hiroshima. Japan's EV market lags globally, with EVs making up just 3.5per cent of vehicle sales in 2023 compared to the global average of 18%, per BloombergNEF. Toyota's multi-pathway approach, favoring hybrids alongside EVs, has shaped public skepticism about EVs' popularity, Kusunoki noted. However, small kei cars like the Sakura, which sold nearly 23,000 units in 2024, dominate Japan's EV market. KG Motors' mibot, with its minimalist design and low production costs, targets rural areas with declining public transport. Bloomberg reports that 95per cent of the 2,250 pre-orders come from homeowners with at least one vehicle. The startup expects to break even on its second batch of 3,000 units and aims to produce 10,000 annually thereafter.
Time of India
a day ago
- Automotive
- Time of India
How this $7,000 EV is said to be busting the 'biggest' myth about cars in Japan and is set to beat Toyota in EV sales
A Japanese startup, KG Motors, is aiming to boost Japan's electric vehicle (EV) market with an ultra-compact, affordable one-seater EV called the mibot, according to Bloomberg. Resembling a futuristic golf cart, the mibot is designed for Japan's narrow streets and has already pre-sold over half of the 3,300 units planned for delivery in 2027. This puts KG Motors on track to surpass Toyota, which sold around 2,000 EVs in Japan in 2024. This reportedly puts KG Motors on track to sell more EVs in Japan than the world's biggest automaker, Toyota Motor Corp., which shifted around such 2,000 vehicles in all of 2024. In a country where EVs are still a rare sight, KG Motors is trying to bust a burgeoning myth: That Bigger is Better. 'Cars are simply too big,' said Kazunari Kusunoki, KG Motors' founder and CEO, as quoted by Bloomberg. The mibot, priced at ¥1 million ($7,000) before tax, is half the cost of Japan's popular Nissan Sakura EV. It offers a 100-kilometer range, a five-hour charge time, and a top speed of 60 km/h. Production is set to begin in October at a new factory east of Hiroshima. Japan's EV market lags globally, with EVs making up just 3.5% of vehicle sales in 2023 compared to the global average of 18%, per BloombergNEF. Toyota's multi-pathway approach, favoring hybrids alongside EVs, has shaped public skepticism about EVs' popularity, Kusunoki noted. However, small kei cars like the Sakura, which sold nearly 23,000 units in 2024, dominate Japan's EV market. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like ¡Trading con IA en Chile ayuda a usuarios a obtener ganancias potenciales! Mainhubfb Más información Undo KG Motors' mibot, with its minimalist design and low production costs, targets rural areas with declining public transport. Bloomberg reports that 95% of the 2,250 pre-orders come from homeowners with at least one vehicle. The startup expects to break even on its second batch of 3,000 units and aims to produce 10,000 annually thereafter. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
a day ago
- Automotive
- Time of India
This $7,000 single-seat electric car is a big hit in Japan
In the rural suburbs of Hiroshima, a Japanese startup is trying to kick start the nation's electric vehicle market with the smallest, cheapest car it can possibly make. KG Motors has developed a battery-powered one-seater that more resembles a futuristic golf cart than it does a modern EV, much less a traditional car. And yet well over half of the 3,300 units it plans to deliver in 2027 have already been pre-sold to customers. Incidentally, that puts it on track to sell more EVs in Japan than the world's biggest automaker, Toyota Motor Corp., which shifted around such 2,000 vehicles in all of 2024. In a country where EVs are still a rare sight, KG Motors is trying to bust a burgeoning myth: that bigger is better. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals 'Cars are simply too big,' founder and Chief Executive Officer Kazunari Kusunoki said. 'Seeing so many big cars traveling Japan's narrow streets – that's where this all began for me.' At under 1.5 meters in height, KG Motors' mibot has a range of 100 kilometers (62 miles), a charging time of five hours and a top speed of 60 kilometers per hour. It will cost ¥1 million ($7,000) before tax when production starts in October at KG Motors' new factory east of the city. That's about half the price of Japan's most popular EV, Nissan Motor Co.'s Sakura. Live Events To date, domestic and foreign automakers alike have struggled to find traction for EVs in Japan. The cars accounted for about 140,000 units or around 3.5% of total vehicle sales in 2023, a far cry from the global average of 18%, according to BloombergNEF. Chinese behemoth BYD Co., for example, sold 2,223 automobiles in Japan in 2024 – a sliver of the 4.3 million it delivered worldwide. Toyota and its Japanese peers, meanwhile, are at odds with other legacy automakers that hold an all-electric view of the future. Toyota has long harbored a multi-pathway approach to a greener tomorrow, one where EVs as well as gasoline, hybrids and hydrogen-powered vehicles play a role. As a result, the gas-electric hybrids pioneered by Japanese manufacturers still dominate. 'Toyota said EVs aren't the only solution and, because it's Toyota, Japanese people assume it must be true,' Kusunoki said. 'A large number of people in Japan seem to believe EVs won't become popular.' Japan, at least, has been slower to embrace the global trend toward larger, roomier vehicles. Smaller autos have always been a feature in the Asian nation and its lightweight kei cars have even found cult followings abroad. In recent years, they've claimed the lion's share of the domestic EV market, accounting for 55% of total sales in 2023. Nissan's Sakura is a kei car, with just under 23,000 units sold in 2024. In April, BYD said it's planning to produce a fully-electric kei car specifically for the Japanese market in the second half of 2026, while Hyundai Motor Co. introduced the Inster earlier this year, a ¥2.9 million vehicle it claims to be Japan's cheapest EV, at least among full-sized passenger cars. Small-sized EVs have helped spark consumer acceptance of battery-powered cars overseas as well. In China, the world's biggest EV market, SAIC-GM-Wuling Automobile Co.'s Hongguang Mini was at one point the nation's top seller. Still, with its single-seat design, KG Motors' mibot is in a tiny league of its own. The first 300 should be delivered to customers in Hiroshima and Tokyo by the middle of next year, while the next 3,000 will be shipped nationwide, Kusunoki said. KG Motors says it will lose money on the first batch but should break even on the second. After that, the company aims to produce around 10,000 units annually. It's in the process of acquiring the vehicle safety certification needed to commercialize the mibot. The startup's size and make-to-order strategy could work in its favor. EVs use far less parts than conventional gasoline or hybrid vehicles but the mibot takes that to another level, essentially consisting of a battery, motor and sparse electronics connected by wiring housed within a monocoque chassis on four wheels, so production costs are low. Even KG Motors' marketing draws on Kusunoki's former life as a YouTube content creator. The company has published footage on its website of the mibot being tested on the icy roads of Hokkaido, squeezing between homes packed into Hiroshima's historic districts and smashing into concrete walls at high speeds to ensure it satisfies Japan's strict safety regulations. Kusunoki, 43, who founded KG Motors in June 2022, grew up in Higashihiroshima, a suburban town with streets sometimes too narrow even for a Japanese sedan. He watched the country's public transport infrastructure deteriorate as a shortage of taxi drivers was compounded by an aging, shrinking population. As young people migrate to big cities, it's also becoming more difficult for the elderly to get around. As a result, KG Motors ultimately sees demand for one- or two-seater compact, cost efficient cars. As of early May, the company had received 2,250 orders, with over 95% coming from homeowners with at least one vehicle. 'In rural parts of the country, public transportation systems are in shambles,' Kusunoki said. 'This might be hard for someone living in Tokyo to understand but at some point, it becomes necessary to have one car per person, not just per household.'
&w=3840&q=100)
Business Standard
2 days ago
- Automotive
- Business Standard
KG Motors looks to kickstart Japan's electric-vehicle market with Mibot
KG Motors has developed a battery-powered one-seater that more resembles a futuristic golf cart than it does a modern EV, much less a traditional car Bloomberg In the rural suburbs of Hiroshima, a Japanese startup is trying to kick start the nation's electric vehicle market with the smallest, cheapest car it can possibly make. KG Motors has developed a battery-powered one-seater that more resembles a futuristic golf cart than it does a modern EV, much less a traditional car. And yet well over half of the 3,300 units it plans to deliver in 2027 have already been pre-sold to customers. Incidentally, that puts it on track to sell more EVs in Japan than the world's biggest automaker, Toyota Motor Corp., which shifted around such 2,000 vehicles in all of 2024. In a country where EVs are still a rare sight, KG Motors is trying to bust a burgeoning myth: that bigger is better. 'Cars are simply too big,' founder and Chief Executive Officer Kazunari Kusunoki said. 'Seeing so many big cars traveling Japan's narrow streets – that's where this all began for me.' At under 1.5 meters in height, KG Motors' mibot has a range of 100 kilometers (62 miles), a charging time of five hours and a top speed of 60 kilometers per hour. It will cost ¥1 million ($7,000) before tax when production starts in October at KG Motors' new factory east of the city. That's about half the price of Japan's most popular EV, Nissan Motor Co.'s Sakura. To date, domestic and foreign automakers alike have struggled to find traction for EVs in Japan. The cars accounted for about 140,000 units or around 3.5 per cent of total vehicle sales in 2023, a far cry from the global average of 18 per cent, according to BloombergNEF. Chinese behemoth BYD Co., for example, sold 2,223 automobiles in Japan in 2024 – a sliver of the 4.3 million it delivered worldwide. Toyota and its Japanese peers, meanwhile, are at odds with other legacy automakers that hold an all-electric view of the future. Toyota has long harbored a multi-pathway approach to a greener tomorrow, one where EVs as well as gasoline, hybrids and hydrogen-powered vehicles play a role. As a result, the gas-electric hybrids pioneered by Japanese manufacturers still dominate. 'Toyota said EVs aren't the only solution and, because it's Toyota, Japanese people assume it must be true,' Kusunoki said. 'A large number of people in Japan seem to believe EVs won't become popular.' Japan, at least, has been slower to embrace the global trend toward larger, roomier vehicles. Smaller autos have always been a feature in the Asian nation and its lightweight kei cars have even found cult followings abroad. In recent years, they've claimed the lion's share of the domestic EV market, accounting for 55 per cent of total sales in 2023. Nissan's Sakura is a kei car, with just under 23,000 units sold in 2024. In April, BYD said it's planning to produce a fully-electric kei car specifically for the Japanese market in the second half of 2026, while Hyundai Motor Co. introduced the Inster earlier this year, a ¥2.9 million vehicle it claims to be Japan's cheapest EV, at least among full-sized passenger cars. Small-sized EVs have helped spark consumer acceptance of battery-powered cars overseas as well. In China, the world's biggest EV market, SAIC-GM-Wuling Automobile Co.'s Hongguang Mini was at one point the nation's top seller. Still, with its single-seat design, KG Motors' mibot is in a tiny league of its own. The first 300 should be delivered to customers in Hiroshima and Tokyo by the middle of next year, while the next 3,000 will be shipped nationwide, Kusunoki said. KG Motors says it will lose money on the first batch but should break even on the second. After that, the company aims to produce around 10,000 units annually. It's in the process of acquiring the vehicle safety certification needed to commercialize the mibot. The startup's size and make-to-order strategy could work in its favor. EVs use far less parts than conventional gasoline or hybrid vehicles but the mibot takes that to another level, essentially consisting of a battery, motor and sparse electronics connected by wiring housed within a monocoque chassis on four wheels, so production costs are low. Even KG Motors' marketing draws on Kusunoki's former life as a YouTube content creator. The company has published footage on its website of the mibot being tested on the icy roads of Hokkaido, squeezing between homes packed into Hiroshima's historic districts and smashing into concrete walls at high speeds to ensure it satisfies Japan's strict safety regulations. Kusunoki, 43, who founded KG Motors in June 2022, grew up in Higashihiroshima, a suburban town with streets sometimes too narrow even for a Japanese sedan. He watched the country's public transport infrastructure deteriorate as a shortage of taxi drivers was compounded by an aging, shrinking population. As young people migrate to big cities, it's also becoming more difficult for the elderly to get around. As a result, KG Motors ultimately sees demand for one- or two-seater compact, cost efficient cars. As of early May, the company had received 2,250 orders, with over 95 per cent coming from homeowners with at least one vehicle. 'In rural parts of the country, public transportation systems are in shambles,' Kusunoki said. 'This might be hard for someone living in Tokyo to understand but at some point, it becomes necessary to have one car per person, not just per household.'
Straits Times
2 days ago
- Automotive
- Straits Times
This $8,930 single-seat electric car is a big hit in Japan
Mr Kazunari Kusunoki, chief executive of KG Motors, with the company's ultra-compact electric vehicle during a media preview in Tokyo in March. PHOTO: BLOOMBERG HIROSHIMA – In the rural suburbs of Hiroshima, a Japanese start-up is trying to kick-start the nation's electric vehicle (EV) market with the smallest, cheapest car it can possibly make. KG Motors has developed a battery-powered one-seater that resembles a futuristic golf cart more than a modern EV, much less a traditional car. And yet well over half of the 3,300 units it plans to deliver by March 2027 have already been pre-sold to customers. That puts it on track to sell more EVs in Japan than the world's biggest automaker, Toyota Motor, which shifted around such 2,000 vehicles in all of 2024. In a country where EVs are still a rare sight, KG Motors is trying to bust a burgeoning myth: that bigger is better. 'Cars are simply too big,' founder and chief executive officer Kazunari Kusunoki, 43, said. 'Seeing so many big cars travelling Japan's narrow streets – that's where this all began for me.' At under 1.5m in height, KG Motors' mibot has a range of 100km, a charging time of five hours and a top speed of 60kmh. It will cost one million yen (S$8,930) before tax when production starts in October at KG Motors' new factory east of the city. That is about half the price of Japan's most popular EV, Nissan Motor's Sakura. To date, domestic and foreign carmakers alike have struggled to find traction for EVs in Japan. The cars accounted for about 140,000 units or around 3.5 per cent of total vehicle sales in 2023, a far cry from the global average of 18 per cent, according to research and analysis provider BloombergNEF. Chinese behemoth BYD, for example, sold 2,223 automobiles in Japan in 2024 – a sliver of the 4.3 million it delivered worldwide. Toyota and its Japanese peers, meanwhile, are at odds with other legacy carmakers that hold an all-electric view of the future. Toyota has long harboured a multi-pathway approach to a greener tomorrow, one where EVs as well as petrol, hybrids and hydrogen-powered vehicles play a role. As a result, the petrol-electric hybrids pioneered by Japanese manufacturers still dominate. 'Toyota said EVs aren't the only solution and, because it's Toyota, Japanese people assume it must be true,' Mr Kusunoki said. 'A large number of people in Japan seem to believe EVs won't become popular.' Japan, at least, has been slower to embrace the global trend towards larger, roomier vehicles. Smaller cars have always been a feature in the Asian nation and its lightweight 'kei' cars have found cult followings abroad. In recent years, they have claimed the lion's share of the domestic EV market, accounting for 55 per cent of total sales in 2023. Nissan's Sakura is a kei car, with just under 23,000 units sold in 2024. In April, BYD said it is planning to produce a fully electric kei car specifically for the Japanese market in the second half of 2026, while Hyundai Motor introduced the Inster earlier in 2025, a 2.9 million yen vehicle it claims to be Japan's cheapest EV, at least among full-sized passenger cars. Small-sized EVs have helped spark consumer acceptance of battery-powered cars overseas as well. In China, the world's biggest EV market, SAIC-GM-Wuling Automobile's Hongguang Mini was at one point the nation's top seller. Still, with its single-seat design, KG Motors' mibot is in a tiny league of its own. The first 300 should be delivered to customers in Hiroshima and Tokyo before the end of next March, while the other 3,000 will be shipped nationwide, Mr Kusunoki said. KG Motors says it will lose money on the first batch, but should break even on the second. After that, the company aims to produce around 10,000 units annually. The start-up's size and make-to-order strategy could work in its favour. EVs use far fewer parts than conventional petrol or hybrid vehicles, but the mibot takes that to another level, essentially consisting of a battery, motor and sparse electronics connected by wiring housed within a monocoque chassis on four wheels, so production costs are low. Even KG Motors' marketing draws on Mr Kusunoki's former life as a YouTube content creator. The company has published footage on its website of the mibot being tested on the icy roads of Hokkaido, squeezing between homes packed into Hiroshima's historic districts and smashing into concrete walls at high speeds to ensure it satisfies Japan's strict safety regulations. Mr Kusunoki, who founded KG Motors in June 2022, grew up in Higashihiroshima, a suburban town with streets sometimes too narrow even for a Japanese saloon. He watched the country's public transport infrastructure deteriorate as a shortage of taxi drivers was compounded by an ageing, shrinking population. As young people migrate to big cities, it is also becoming more difficult for the elderly to get around. As a result, KG Motors sees the demand for one- or two-seater compact, cost-efficient cars. As at early May, it had received 2,250 orders, with over 95 per cent coming from home owners with at least one vehicle. 'In rural parts of the country, public transportation systems are in shambles,' Mr Kusunoki said. 'This might be hard for someone living in Tokyo to understand. But at some point, it becomes necessary to have one car per person, not just per household.' BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
