Will BYD Win Over Hyundai and Kia Enthusiasts

BYD, a dominant player in China's electric vehicle sector, has entered the South Korean market with the goal of attracting local buyers, many of whom are loyal to domestic automakers Hyundai and Kia. With prices beginning at just 31.5 million won ($22,000), BYD is offering a more affordable option compared to other vehicles in the same segment.

The company has launched a range of models in South Korea, including the Atto 3 compact SUV, the Seal sedan, and the Sealion mid-size SUV. These vehicles are priced lower than their counterparts from Korean brands, with the Atto 3 taking the lead in terms of orders. Preorders for the Atto 3 began on January 16, and the Seal and Sealion are expected to be available later this year.

Although skepticism remains about Chinese-made products in Korea, the appealing price tags of BYD's offerings have sparked considerable interest among potential customers.

Buzz Across Online Forums
According to BYD Korea, the Atto 3 has already received 1,000 preorders within just nine days, with nearly all buyers choosing the higher-end Atto 3 Plus model. Many of the consumers who inquired about the vehicle expressed interest in its advanced safety features, comfort amenities, and the reliability of the battery.

The buzz surrounding BYD has intensified in online communities. As of last Friday, 47 active forums discussing BYD on Naver, Korea's largest search engine, have collectively garnered over 510,000 members. Many of these forums, once dedicated to other brands, are now focused on the Chinese automaker.

Car enthusiasts have been drawn to BYD's pricing, particularly since the Atto 3 costs around 10 million won less than the Hyundai Kona EV and Kia's Niro EV and EV3. One of the largest BYD groups on Naver even saw a user expressing excitement about the expected arrival of the BYD Dolphin hatchback, which is expected to be even more affordable.

On the anonymous workplace forum Blind, a post endorsing BYD received more than 12,000 views. The writer, a long-time fan of Hyundai and Kia, argued that the entrance of BYD into the market could benefit consumers by intensifying competition and potentially lowering prices for everyone.

Not All Support BYD’s Entry
However, not all Koreans are enthusiastic about BYD's presence in the local market. Some critics have voiced concerns about the impact of Chinese-made vehicles on South Korea's domestic auto industry.

A member of LG Display posted on Blind, “I will avoid anyone who drives a BYD vehicle. Buying a Chinese EV is a threat to Hyundai, Kia, and even LG Energy Solution. How is this not a betrayal of our national companies?”

This opinion sparked debate, with some responding that nationalism should not dictate consumer choices, particularly when it comes to getting the best deal. Others conceded that while Chinese vehicles are not yet fully trusted in Korea, their affordability and quality make them worth considering.

An employee from FST, a semiconductor materials manufacturer, pointed out that social status in Korea is often linked to the brand and price of one’s car. Still, they acknowledged the growing quality of Chinese EVs.