Japan, the world’s second-largest car exporter, risks a 14% drop in GDP if it does not move more swiftly toward producing electric vehicles, according to a new report by the Climate Group.

The Climate Group is a non-profit founded in 2003 with the intent to inspire global climate action. The group commissioned two early leaders in the Japanese EV industry to help with this report – Kenichiro Wada, who headed Mitubishi’s i-MiEV project and founded the Japan Electrification Institute, and Professor Masato Inoue, design director of the original Nissan Leaf and professor at the Institute of Design in Turin.

The report shows the status of auto sales in various regions, with Japan lagging behind major markets in Europe, China, and the United States in terms of domestic EV sales. Japan’s domestic hybrid (HEV) sales are going relatively strong, but the country sells very few battery-electric (BEV) and plug-in hybrid (PHEV) vehicles.

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Climate Group Warns Japan's Failure To Adopt EVs Will Lead To Financial Disaster

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