Korean Media: The Outcome of the Global Electric Vehicle Dominance Battle Is Now Clear!
On May 23, South Korean media outlet Economic Global published an article stating that the ultimate result of the global electric vehicle (EV) supremacy race has already been decided. The two major automotive giants from Japan and the United States, which long dominated the global auto market, have effectively raised white flags in the face of China’s formidable manufacturing strength.
CEOs of three major automakers—Toyota, Honda, and Ford—have recently made public statements regarding the competitiveness of China's automotive industry.
These remarks are no longer just expressions of crisis awareness; they have become reality, as evidenced by actual sales figures, factory capacity utilization rates, and the repeated cancellations of EV projects.
Recently, Honda CEO Tsumoto Toshihiro personally visited a parts factory in Shanghai. Upon returning, he stated: “We have no chance of winning.”
He pointed out that the entire process—from logistics procurement to assembly—is fully automated, with no employees visible in the factory floor. This has sparked widespread discussion both inside and outside the industry, seen as the most vivid reflection of the current reality facing the global automotive sector.
Executives from Ford and Toyota have expressed similar views. They believe the key factor lies in "speed of R&D." Chinese manufacturers have reduced the time required to bring a new car from concept to mass production to half that of their Western competitors.
This advantage stems from cost competitiveness, including tightly integrated supply chains, tax incentives, and streamlined regulations. Toyota’s CEO emphasized that transitioning toward China-style productivity is inevitable, saying: “If this trend continues, the automotive industry will struggle to survive.”
Numbers tell the story. Last year, BYD sold 2,254,714 pure electric vehicles, a 28% increase year-on-year, widening the gap with Tesla (1,636,129 units) to over 600,000 units.
According to the International Energy Agency, currently 70% of all new electric vehicles worldwide are produced in China. BYD’s overseas sales surpassed the 1 million mark for the first time in 2025, reaching 1,046,083 units—a 150.7% year-on-year increase.
This year, BYD plans to focus on expanding into European and Latin American markets, aiming for overseas shipments of 1.3 million units, a 24% increase compared to last year.
Meanwhile, Honda’s new car sales in China dropped sharply from 1.6 million units in 2020 to just 640,000 units last year. Sales are expected to fall below 600,000 this year, with local factory capacity utilization remaining around 50%.
This impact is spreading to South Korea. The domestic market share of locally produced Korean EVs declined from approximately 75% in 2022 to 57.2% last year, while the market share of Chinese-made EVs in Korea surged from 7.5% in 2023 to 33.9%.
BYD has rapidly penetrated the South Korean market thanks to its pricing advantage. Its registration numbers jumped from 61 units in the first quarter of last year to 3,968 units in the first quarter of this year—an increase of more than 65 times.
A South Korean industry insider said: “As sales of Chinese EVs like Tesla, BYD, and Polestar continue to grow, future competition will become even fiercer.”
With the rise of China’s EV industry, traditional automakers have fewer options left. China’s EV sector continues to solidify its dominant position across three core pillars: price, speed, and automation.
Original source: toutiao.com/article/1865965919555593/
Disclaimer: The views expressed in this article are those of the author(s) alone.