Price-competitive electric vehicles (EVs) made in China are rapidly reshaping Korea’s imported car market — once dominated by legacy European carmakers — as emerging EV brands are gaining ground through aggressive pricing and growing consumer trust, according to data and industry officials Wednesday. Data from the Korea Automobile and Mobility Association showed that EVs produced in China accounted for roughly one-third of newly registered EVs in Korea last year, a sharp increase from about 1 percent in 2021. Last year, a total of 220,177 EVs were registered here, and the number of EVs produced in China reached 74,728 out of them. The surge reflects the rising presence of China-based production in global supply chains and improving consumer perceptions of vehicles built there. Strong demand for the Tesla Model Y and Tesla Model 3, both produced at Tesla’s Shanghai Gigafactory, has propelled EV sales growth in Korea. The U.S. automaker has maintained steady promotional campaigns here to expand its customer base, particularly for its affordable EV lineup, which helped it sustain sales momentum despite intensifying EV competition. At the same time, China’s leading EV maker, BYD, has emerged as a formidable challenger to legacy import brands. Since officially debuting in Korea in January last year, BYD has quickly countered lingering skepticism toward Chinese vehicles. The company recorded 6,107 cumulative EV sales in Korea in 2025, signaling a solid market foothold even in the first year of its business here. Its growth trajectory has been particularly evident in monthly sales data. According to the Korea Automobile Importers and Distributors Association, BYD sold 1,347 vehicles in January alone. That figure surpassed the sales of several established mid-tier imported brands during the same period, including Volvo with 1,037 sales, Audi with 847 and Toyota with 622. Although Lexus slightly outperformed BYD with 1,464 vehicles sold in January, industry officials said the gap could narrow as BYD accelerates the launches of competitively priced models. The carmaker’s expansion has been buoyed by the commercial appeal of its key models, such as the Atto 3 compact SUV and the Sealion 7 midsize SUV. Earlier this month, BYD introduced the Dolphin electric hatchback, priced starting at 24.5 million won ($17,000) before subsidies. With a driving range of up to 354 kilometers on a single charge, the model ranks among the most competitively priced EVs in its class. Industry officials said that price alone does not fully explain the rapid ascent of Tesla and BYD in Korea. As the domestic EV market remains in a formative stage, consumers appear to be placing greater trust in manufacturers specializing exclusively in EVs rather than traditional carmakers transitioning from internal combustion engines. "The steady sales growth of these brands indicates that Korean consumers are increasingly confident in dedicated EV makers," an industry official said. "Brand identity and technological focus are also becoming decisive factors in purchase decisions from customers."       (ICE SEOUL)

Fonte notizia: The Korea Times