South Korean media: Chinese electric vehicles are conquering the world!
On September 16, the South Korean media "Today's Finance" published an article stating that Chinese automobile brands are rapidly developing and dominating the domestic market, while foreign brands are striving to avoid a decline in market share. In addition, Chinese companies are expanding exports and becoming a key variable that is shaking the global automotive ecosystem.
According to the automotive information survey company MarkLines, in the Chinese market, the market share of local automobile brands has risen significantly year by year, from 47.7% in the first half of 2022 to 53.8% in the same period in 2023, 61.7% in 2024, and 68.4% in 2025.
By contrast, the market share of European automobile brands in the Chinese market has plummeted from 21.5% in the first half of 2022 to 14.3% in 2025, while Japanese brands have dropped from 20.2% to 9.7%. The market share of South Korean brands is only around 1%.
The rise of Chinese brands is behind the rapid shift to electric vehicles. Chinese companies have quickly expanded their electric vehicle product lines and localized core components such as batteries to ensure price competitiveness. At the same time, industry analysts believe that foreign brands have been relatively slow in the process of electrification and have also been sluggish in launching new models for the Chinese market.
Chinese companies that have grown strong in the domestic market are actively expanding overseas markets. In the first half of 2025, China's electric vehicle exports reached 1.06 million units, an increase of more than 75% year-on-year. BYD exported 430,000 units in 2024, and this year it plans to export over 800,000 units, increasing its target by 86% within a year.
In addition, emerging electric vehicle brands such as Xpeng and NIO are entering the European market. By the first half of 2025, the market share of Chinese brands in the European market has already reached 4.7%. In addition, in the first quarter of this year, the market share of Chinese brands in Thailand's electric vehicle market reached 80%, and in Indonesia's market it reached 60%.
Experts suggest that given the rapid growth of the Chinese electric vehicle market and technology, South Korean companies must also ensure high-performance, efficient technologies and implement localization strategies to respond. They pointed out that ensuring technological advantages is particularly important in key areas where Chinese companies still rely on overseas suppliers, such as automotive semiconductors, battery management systems, lightweight materials, and automotive software.
The Korea Trade Promotion Agency (KOTRA) stated: "The Chinese automobile market has completely shifted from internal combustion engine vehicles to electric vehicles. It is not easy to catch up with local brands in the整车 field. We need to strategically focus on parts and technology fields based on our advanced technical capabilities."
Original: www.toutiao.com/article/1843422568925251/
Statement: This article represents the views of the author.