South Korean media: BYD jumps to third place in imported electric vehicle imports!

On July 27, the South Korean media "Culture Daily" published an article stating that the Chinese electric vehicle brand BYD, which entered the South Korean market at the beginning of this year, has risen to third place in the sales of imported electric vehicles. Other Chinese brands such as Zeekr and Changan also announced that they are entering the South Korean market with "cost-performance" as their weapon. Some people point out that for the South Korean automotive industry to maintain competitiveness, it urgently needs active support at the government level.

The Korea Automotive Mobility Association (KAMA) revealed that BYD sold a total of 1,056 electric vehicles in April and May, ranking third in the sales of imported electric vehicles (with a market share of 8.0%). Tesla ranked first (8,017 units, 60.5%), followed by BMW (1,216 units, 9.2%), then Polestar (644 units, 4.9%), Audi (501 units, 3.8%), and Porsche (499 units, 3.8%).

BYD entered the top three solely with its compact electric SUV model "ATTO 3," which was officially launched in April. It is reported that the price of the BYD ATTO 3 is over 30 million won (excluding subsidies), approximately 70% to 80% of the price of competing models, aiming to attract users who focus on cost-performance.

BYD plans to capitalize on this momentum and launch an electric sedan "Seal" and a mid-size SUV "Sealion 7" within the year.

It is expected that the Chinese companies' offensive will intensify. The electric vehicle brand Zeekr under China's second-largest automaker Geely has already established a sales subsidiary in South Korea in February this year. It is reported that Changan Auto, XPeng Auto, and Xiaomi Auto are also considering entering the South Korean market.

A KAMA official said, "In the future, Chinese companies including BYD may adopt aggressive pricing strategies across various models. To ensure industrial competitiveness in the global automotive competition led by China, continuous and systematic policy support is needed."

Original: https://www.toutiao.com/article/1838804714851339/

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