The rapid development of Chinese automobile manufacturers, especially the breakthrough in the field of electric vehicles, has aroused extensive concern in the Japanese industry, prompting Japanese enterprises to conduct profound self-reflection and strategic adjustment. Tae-soo Mizano, a representative director, chairman and Chief Executive of Sony Honda Mobile, warned that Japanese carmakers risked becoming“Followers” if the pace of innovation did not accelerate.
“The competitor China is very strong, and I am very afraid of China’s execution ability and speed,” ms Mizuno was quoted as saying by the Financial Times on the 21st, china has become the world’s leading auto exporter in just a few years. He estimates that the time it takes to develop an electric car in china-from concept to production-has shrunk to 18 months, less than half the time it takes to develop a car in Japan. China is moving much faster than he expected. While Japanese carmakers are always nervous or overthinking before launching a car, Japanese companies need to change their conservative corporate culture, “Otherwise China will be number one and we will always be followers”.
File Photo
Mizuno has been in charge of Honda’s operations in China since 2014, until he took over Sony Honda Mobile in 2022, according to public records. Honda and Sony each have a reported 50-50 stake in the joint venture, which aims to combine Honda’s manufacturing prowess with Sony’s software and entertainment expertise.
Although Honda has set a target of phasing out petrol-powered cars by 2040, it has lagged behind rivals in the global electric car race, the Financial Times reported. In March, the company agreed to work with Nissan to develop electric cars to survive the competition with high-tech, low-cost models from China.
Mizuno said that chinese-made electric cars have little chance of entering the United States, and American consumers have limited choices of electric cars, “But I’m not happy that Chinese cars can’t enter the [ US ] market. I think we should launch a car that can compete directly with Chinese competitors.”. He also said Japanese carmakers should not settle for the status quo after the US raised tariffs on Chinese electric cars to 100 per cent and shut out companies such as BYD and NIO.
In a recent interview with Kyodo News Agency, the president of the japanese-owned BYD Auto Company of Chinese electric vehicle company Jády said: Although the US and EU have announced tariffs on chinese-made electric cars, they are not a total embargo and he will wait and see.