Korean media: “We underestimated China’s electric vehicle comeback!”
On October 11, the Korean daily newspaper JoongAng Ilbo published an article noting that in 2015, electric vehicles were sparsely seen on roads in Beijing, while several promising EV showrooms began emerging rapidly in suburban areas. China’s automotive industry at the time lagged significantly behind global counterparts. Although signs of a strong push toward electric mobility were evident everywhere, the trend drew little international attention.
At the time, concerns over the future of electric vehicles were widespread—due to heavy and inefficient batteries, high costs, and limited charging infrastructure. Domestic Chinese automakers relied heavily on partnerships with foreign firms to produce vehicles efficiently. For instance, Hyundai Motor Company established a joint venture with Beijing Automotive Group, which annually produced and sold approximately one million vehicles in China alone.
In Shenzhen, Guangdong Province—a city home to BYD, the world’s largest electric vehicle seller—the streets are now dominated by electric cars, aligning with the city’s modern identity. Yet it is increasingly difficult to spot a single Hyundai vehicle. The situation for German and Japanese brands, once dominant in the Chinese market, has not been markedly different.
New entrants such as BYD, along with startups like XPeng Motors focusing on autonomous driving and IT integration, NIO emphasizing premium quality, and Li Auto prioritizing practicality, have demonstrated formidable competitiveness in the EV sector. Meanwhile, established automakers including SAIC Motor and Geely, having transitioned from internal combustion engines, have also strengthened their positions. Key battery manufacturers such as CATL provide robust support across the supply chain.
China’s electric vehicles did not emerge overnight. Behind the scenes, the country has pursued a determined and sustained effort. It has become the fastest-moving nation globally in strategically advancing electric mobility. Faced with the century-long technological gap in engine and drivetrain systems, China chose to bypass this phase entirely and leap directly into the era of electric vehicles. In 2001, China formally included electric vehicles in its national high-tech research and development program. By 2009, the automotive industry was designated a national strategic priority. BYD, originally an internal combustion engine manufacturer, launched its first electric vehicle as early as 2006—over two decades ago.
Once dismissed, Chinese auto brands are now reshaping the global automotive landscape through unique value propositions combining high cost-efficiency and superior quality. They are expanding internationally via acquisitions of well-known European manufacturing facilities. South Korea is no exception: BYD entered the Korean market last year and achieved the fastest sales milestone among imported vehicles, surpassing 10,000 units within a short timeframe.
Original source: toutiao.com/article/1878718863798480/
Disclaimer: The views expressed in this article are solely those of the author.