BYD's Korea expansion challenges Hyundai on home turf
· Politics · South Korea · China
BYD is expanding in South Korea, challenging Hyundai Motor's dominance at home. When Lee Seongdong decided to replace his 2016 Chevrolet Spark in April, a two-year wait for Hyundai's Casper Electric had already pushed him toward BYD's Dolphin. He was so impressed by the feature-rich ride that he signed a contract on the spot, Bloomberg reported. The case illustrates how Chinese electric-vehicle makers are winning buyers in markets long dominated by local automakers.
Why it matters：Chinese EV makers are moving from price competition into established home markets of major automakers, pressuring Hyundai and others.
Key points
- A two-year wait for Hyundai's Casper Electric pushed one buyer to BYD.
- The buyer signed for a BYD Dolphin on the spot.
- BYD's expansion tests Hyundai's dominance in South Korea.
Sources (original reporting)
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