koreatimes123d ago
Price-competitive electric vehicles (EVs) made in China are rapidly reshaping Korea’s imported car market — once dominated by legacy European carmakers — as emerging EV brands are gaining ground through aggressive pricing and growing consumer trust, according to data and industry officials Wednesday. Data from the Korea Automobile and Mobility Association showed that EVs produced in China accounted for roughly one-third of newly registered EVs in Korea last year, a sharp increase from about 1 percent in 2021. Last year, a total of 220,177 EVs were registered here, and the number of EVs produced in China reached 74,728 out of them. The surge reflects the rising presence of China-based production in global supply chains and improving consumer perceptions of vehicles built there. Strong demand for the Tesla Model Y and Tesla Model 3, both produced at Tesla’s Shanghai Gigafactory, has propelled EV sales growth in Korea. The U.S. automaker has maintained steady promotional campaigns here to expand its customer base, particularly for its affordable EV lineup, which helped it sustain sa