BYD Korea-launch
INCHEON, Jan. 16 (Yonhap) -- Chinese electric vehicle (EV) manufacturer BYD Co. officially entered the South Korean passenger car market Thursday, unveiling its Atto 3 compact sport utility vehicle (SUV) under an aggressive pricing scheme.
BYD Korea, the company's local sales subsidiary, held a media event in Incheon, where it announced that preorders for the Atto 3 will begin immediately, with deliveries expected to start in mid-February.
"The Atto 3 is a proven global bestseller, and we are thrilled to bring it to South Korea," Cho In-cheol, CEO of BYD Korea, said.
Cho highlighted the model's spacious interior, made possible by its best-in-class wheelbase, and its innovative 12.8-inch touchscreen display designed to enhance both utility and entertainment for drivers.
Launched globally in 2022, the Atto 3 has sold more than 1 million units in 72 countries.
The standard model is priced at around 31 million won (US$21,323) while the higher-tier Atto 3 Plus is priced at around 33 million won. After government subsidies, the base model could cost as low as around 20 million won, according to Cho.
"We aimed to set a price that would allow more Korean consumers to experience BYD EVs without financial burden," Cho said.
The government's evaluation of the Atto 3 for EV subsidy is still under way.
Due to its use of lithium-iron-phosphate (LFP) batteries, which have a lower recycling rate, the Atto 3 is expected to receive a smaller subsidy compared to domestically produced EVs.
BYD Korea plans to expand its lineup by launching the midsize electric sedan Seal and the midsize electric SUV Sealion later this year.
Acknowledging the skepticism some Korean consumers may have toward Chinese brands, BYD Korea emphasized its commitment to quality and service.
"We understand the concerns Korean consumers might have about Chinese brands, particularly regarding product quality and service," Cho said.
"We aim to address these by expanding opportunities for consumers to experience BYD's superior product quality and by delivering accurate information and excellent service directly to our customers."
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2025-01-16T03:04:29Z