7,000\$ Electric Car Outsells Toyota in Japan: KG Motors' Mibot Triumphs

Japan's EV Market Gets a Shock: \$7,000 Mibot Outsells Toyota. KG Motors, a small Japanese startup, is shaking up the electric vehicle market with its surprisingly affordable and compact car, the mibot. Priced at just \$7,000, the single-seat vehicle is designed for Japan's urban landscape, where space is at a premium. Despite the relatively slow adoption of EVs in Japan, KG Motors has seen phenomenal success, surpassing even Toyota in domestic sales. Nicholas Takahashi from Bloomberg News notes the growing demand for super compact cars in Japan, a trend that perfectly aligns with the mbot's appeal. The company says the mbot can reach speeds of up to 60 kilometers per hour (just under 40 miles per hour) and requires five hours to fully charge. This success is a testament to the company's innovative approach and the unmet needs of the Japanese market. The mbot's affordability, combined with its practicality, makes it a compelling alternative to larger, more expensive EVs. KG Motors' achievement is a remarkable example of how a small company can effectively address a specific market need and achieve significant success.