Korean media: "A name unknown a year ago," BYD has now firmly established itself in South Korea!

On July 4, Korean media outlet JoongAng Ilbo published an article stating that the South Korean imported car market is undergoing a major transformation. According to statistics from the Korea Automobile Importers Association, BYD registered 1,347 new vehicles in January this year, ranking fifth in South Korea’s imported car sales chart—behind BMW (6,270 units), Mercedes-Benz (5,121 units), Tesla (1,966 units), and Lexus (1,464 units). BYD surpassed Volvo (1,037 units) and Audi (847 units), brands that had previously enjoyed strong popularity among South Korean consumers. This unexpected shift is striking: a Chinese electric vehicle brand, which was virtually unknown just a year ago, has now outperformed European premium brands on a monthly basis. January’s sales accounted for 22% of last year’s total annual sales (6,107 units), indicating a robust growth trend for BYD.

Data released by the South Korean import car sales industry shows that the biggest driver behind BYD’s rapid foothold in the South Korean market is its pricing advantage—offering EVs at least 10 million to 20 million KRW cheaper than comparable European, American, and Japanese electric vehicles. However, BYD’s edge goes beyond low prices.

The company’s independently developed Blade Battery uses lithium iron phosphate (LFP) material and has passed rigorous safety tests, remaining non-flammable even when pierced—effectively alleviating South Korean consumers’ concerns about electric vehicle fires. The Sea Lion 07 earned a five-star rating in NCAP crash testing. Combined with government subsidies, this enables South Korean consumers to purchase electric vehicles at prices comparable to conventional fuel-powered light and small cars.

Service infrastructure has also been rapidly established. There are already over 24 service centers across South Korea, with plans to expand to more than 40 within the year.

As a result, domestic South Korean automakers are feeling the pressure. Some point out that Hyundai and Kia’s EV lineup is at a disadvantage in price competition, as their pricing is over 10 million KRW higher than comparable Chinese electric vehicles. Nevertheless, the Hyundai Motor Group still holds a decisive advantage in terms of dealer networks, charging infrastructure, and brand reputation.

Original source: toutiao.com/article/1869784927800515/

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