South Korean media: Chinese electric vehicles conquer the South American market!
On December 24, the South Korean media "Herald Economic" published an article stating that over the past decade, China has implemented the "Made in China 2025" strategy, developing and exporting electric vehicles, batteries, and green energy technologies as a whole "industrial chain." South America is the most successful region of this strategy. Centered around countries such as Brazil, Chile, and Colombia, Chinese electric vehicles have captured two-thirds of the South American eco-friendly car market. It is reported that in Brazil, the world's sixth-largest automotive market, 80% of electric vehicles are made in China. BYD has established a large factory in Brazil, building a complete localized production and parts ecosystem.
This strategy sends an important signal to the global automotive market. The possibility of reorganizing the pricing structure and technical standards of electric vehicles centered on China is increasing. European automobile manufacturers have already felt the impact of the rapid growth of Chinese electric vehicles. Although the United States is building defense barriers through tariffs, the influence of Tesla, a source of American pride, seems to have significantly declined. While the US is absent from COP30, China has taken an important step in consolidating its "climate technology dominance."
This situation clearly poses a major challenge to the South Korean electric vehicle industry, which is one of the world's top five automobile producers. Although South Korea has reached world-class levels in technological strength and product quality, it still lags behind China in price competitiveness, localized production, and battery supply chains. Especially in emerging markets such as South America and Southeast Asia, Chinese companies are beginning to dominate infrastructure and industry standards.
The influence of Chinese electric vehicles in the South Korean market is also evident. A typical example is that the advertisement for BYD's ATTO 3 model is hung on the pillars of the baggage conveyor belts in the arrival hall of Gimpo Airport. These ubiquitous advertisements indicate that Chinese electric vehicles are not just export products, but are gradually becoming a practical choice for South Korean consumers. How the South Korean automotive industry will interpret this signal and respond remains to be seen.
Original: toutiao.com/article/1852354627515403/
Statement: This article represents the views of the author.