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BYD electric vehicle on display (Photo = BYD) |
[Alpha Biz= Kim Sang Jin] Sales of Chinese electric vehicles (EVs) in South Korea surged more than 286% year-on-year in the first quarter, rapidly increasing market share and raising concerns over the competitiveness of the domestic auto industry.
At a forum hosted by the Korea Automobile & Mobility Industry Association in Seoul on April 22, industry experts discussed strategies for the survival of Korea’s automotive sector amid intensifying competition in the future mobility market.
According to the forum, sales of Chinese EVs reached 25,000 units in the first quarter, up 286.1% from a year earlier. Domestic EV sales totaled 51,000 units—roughly double the volume—but grew at a slower rate of 126.1%.
Chinese EVs have also rapidly gained market share, rising from 4.7% in 2022 to 33.9% last year. Over the same period, the share of domestic EVs fell from 75.0% to 57.2%, highlighting growing pressure on Korea’s auto industry.
AlphaBIZ Kim SangJin(ceo@alphabiz.co.kr)
