South Korean media: Rise of Chinese electric vehicles, "only South Korea looks down on Chinese cars"!

On May 18th, South Korean media "Etoday" published an article stating that BYD is not just a simple electric vehicle manufacturer but a massive "technology conglomerate" producing batteries, motors, semiconductors, and more. The number of R&D personnel reaches as high as 100,000. There is even a saying that "the only EV components BYD doesn't produce are tires and glass".

In BYD's headquarters city of Shenzhen, gasoline-powered vehicles are rarely seen in the urban area. Electric vehicle charging stations are densely distributed in various malls, department stores, hotels, etc., and there are more electric bicycles on the sidewalks than pedestrians. Due to China's full support for new product purchases through the "trade-in" policy, the entire domestic market has become a huge laboratory and incubator.

These changes are not limited to China. At the Shanghai Auto Show, global automakers have successively launched China-specific models. Toyota collaborated with GAC to launch the electric vehicle "bZ7", and Audi even removed its brand logo—the four rings—and replaced it with the English word "Audi". Now, even international brands have to consider the preferences of Chinese consumers.

At the previous Seoul Mobility Show, BYD and Hyundai jointly occupied the largest booth, and the scale of the crowd watching BYD vehicles foretells the quiet spread of a crisis for Hyundai. BYD has launched a small electric SUV called "ATTO 3" in the South Korean market and has already begun delivering to customers. This is just a preview of their offensive.

BYD has started a full-scale entry into the South Korean market, and it is difficult to predict how the South Korean automotive market will change under the aggressive push of Chinese companies.

However, it remains unclear what kind of performance ATTO 3 will achieve in South Korea. This is because the notion that "Chinese cars = knockoffs" and "Made in China = low price" is still deeply rooted in South Korean society. But it seems that only South Korea looks down on Chinese cars, and this perception will only accelerate South Korea's lagging behind in competition. Because the growth of Chinese enterprises is not a mere coincidence but a result of strength.

Original source: https://www.toutiao.com/article/1832438813121536/

Disclaimer: The article solely represents the author's personal views.