China’s BYD to Enter South Korean Market for Passenger EVs
Huang Lin
DATE:  11 hours ago
/ SOURCE:  Yicai
China’s BYD to Enter South Korean Market for Passenger EVs China’s BYD to Enter South Korean Market for Passenger EVs

(Yicai) Jan. 17 -- BYD said it will launch three passenger electric vehicle models in South Korea by the end of this year, with the Chinese auto giant aiming to sell 10,000 there this year.

BYD will debut the Atto 3, the Seal, and the Sealion 7 pure electric sport utility vehicles in South Korea, the Shenzhen-based firm announced yesterday. It has linked arms with six local dealerships to open 15 showrooms and 11 service centers in major regions and cities from Seoul to Jeju Island.

The carmaker first entered the South Korean market, where it mainly sells electric forklifts, buses, and trucks, nearly 10 years ago. BYD said it brings “cutting-edge innovation and top-tier service to lead the way in Korea's green mobility revolution.”

The company has begun taking pre-orders for the Atto 3, said Zhao Renzhe, who heads its passenger car division in South Korea, adding that deliveries will likely start in the middle of next month.

South Korea's five largest carmakers -- Hyundai Motor, Kia, GM Korea, Renault Korea, and KG Mobility -- saw EV sales jump 11.1 percent to 450,000 last year. Tesla’s Model Y topped the country’s EV best-seller list at 18,000.

Sales of hybrid vehicles imported  into South Korea surged 47 percent to 134,400, making up just over half of the total shipped in, according to the Korea Automobile Importers & Distributors Association. EV sales soared 86 percent to 50,000.

The KAIDA expects more government support for environmentally friendly vehicles this year, including the extension of tax incentives and the expansion of EV charging infrastructure, which will have a significant impact on the market.

Editor: Martin Kadiev


 

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Keywords:   BYD,Korea