Next year might be challenging for both Tesla and Hyundai in South Korea, as BYD has just announced its entry on the local passenger car market. When talking about commercial vehicles such as buses or forklifts, BYD has been selling them in South Korea since 2016. Those not familiar with this brand yet and why would Tesla or Hyundai need to worry about having it as a competitor should know that the Chinese EV maker has received an order of no less than 100,000 EVs from Uber. Even more, the 2025 refresh of the BYD Seal AWD is giving Tesla's similarly priced offerings a severe beating in terms of value.
According to KED Global, BYD
"will make a debut in the South Korean passenger car market next year with premium models in hopes of becoming the first Chinese car brand to steal Korean consumers’ hearts after years of failure by its Chinese peers to meet Korean drivers’ high expectations."
The EV models that failed on the South Korean market so far, such as the BAIC Motor Corp. KENBO 600, had both safety and quality issues that prevented them from establishing a solid foothold in the region. The midsize sedan Seal and the compact SUV Atto 3 have all the attributes needed to avoid sharing the same fate.
The Seal promises well over 500 km on a single charge and is expected to have a price below the $30,000 threshold in South Korea. On the other hand, the Atto 3 comes with more than 400 km range and a similar price. If these two prove to be successful, BYD is planning to bring more high-end EV models alongside them as well, such as the luxury brand Denza or the HAN series, reveal insiders familiar with the company's inner workings who spoke to KED Global.
The South Korean Economy, from the World Economies collection by Agenda Publishing, is currently available for $26.49 in Kindle format and $32.28 in paperback version, while the hardcover edition comes for no less than $99.
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