China's BYD considers selling EV passenger cars in South Korea as part of global market expansion - South Korean report

It has been revealed that BYD, a major Chinese automobile company, is considering selling electric passenger vehicles (EVs) in the South Korean market by the end of this year. A BYD official said, ``We are not working on EV sales internally.
We are continuing to consider doing so. We have not decided on the model or release date yet." Behind BYD's entry into the Korean market is the company's strategy of expanding the global market. The company recently
In 2017, EVs were sold all at once in major markets such as China, Europe, and Japan. As a result, last year it exported 242,765 cars, an increase of 334.2%, and its exports increased to approximately 70 countries.
BYD currently only sells commercial EVs such as the 1-ton class electric truck "T4K" in South Korea. Using this as a foothold, we are planning to expand our lineup in the future.
The industry believes that the strength of BYD's EVs lies in their price competitiveness. As a result, competition with Korean finished car manufacturers is expected to intensify. kia and renault coli
This is to compete with plans by companies such as Automobile Automotive Industry Co., Ltd., which aim to expand market share with medium- to low-priced EVs. An industry official said, ``As the growth of the Korean EV market is stagnant, Korean manufacturers are also relatively small in size.
The company is expected to release many inexpensive car brands. Although competition is expected to intensify if more cost-effective Chinese brands appear, there are also expectations that Korean-made EVs with their quality and brand power will do well.
"I can do it," he said.