[Herald Interview] ‘BYD will set no sales target in Korean debut year’

BYD's affordable EVs to hit Korean roads in January

Liu Xueliang, general manager of BYD Asia Pacific auto sales division, speaks in a group interview with Korean reporters at BYD’s headquarters in Shenzhen on Wednesday. (BYD)

CHONGQING, China -- Chinese electric vehicle maker BYD will not focus on sales volume when it debuts in the Korean passenger car market early next year, the EV giant’s Asia Pacific head says.

“We will not set a sales target for our first year (in Korea), “said Liu Xueliang, general manager of BYD Asia Pacific auto sales division, in a group interview with Korean reporters at BYD’s headquarters in Shenzhen, China, Wednesday.

“Our hope is to give Korean customers hands-on experience with BYD EVs. We think that Korea’s EV penetration rate can reach a top global level with a little bit more effort. The EV share of newly sold vehicles has already hit 9.6 percent in the Korean market …Korean customers have a high level of understanding for EVs.”

Liu revealed that the Chinese brand signed partnerships with six Korean dealership firms in the Korean market. The official launch will take place in January with the announcement of the locations of its showrooms across the country. The BYD official added that the showrooms will be located nationwide by naming major cities such as Seoul, Busan and Jeju.

“The current situation is that we are facing a once-in-a-century timing for the automotive industry,” said Liu.

“The advancement of eco-friendly vehicles cannot be done by a single company. The entire society must progress together. In the midst of the transforming automotive industry, China’s eco-friendly vehicles proportion among newly sold cars has exceeded 40 percent. Some may say that China sells (EVs) well on the back of (government) subsidies. That was true seven years ago as it was a new industry. But today’s eco-friendly vehicle market is different. The current customers are making choices to buy eco-friendly cars amid the competition in the market.”

BYD's all-electric sporty sedan Seal (BYD)

Although the Asia Pacific head did not disclose which BYD products are slated to hit the Korean market, he pointed out that the Chinese EV maker will limit which models it releases while launching a new model every year.

For BYD's Korean debut, industry watchers have pointed to the possible release of the Atto 3, a compact crossover sport utility vehicle, and the Seal, a mid-sized sport sedan.

Asked about the competition BYD would have to deal with in Korea such as Hyundai Motor and Kia, Liu reiterated that the Chinese EV maker’s entrance into the Korean passenger car market is not about selling the most vehicles, at least for the time being.

“The BYD brand is just beginning (in Korea) so it will not be enough to generate as much sales volume as Hyundai and Kia,” he said.

“It’s more important to offer more options for Korean customers including (BYD), Hyundai, Kia and (KG Mobility) to expand EV experiences. … Today’s EV is a product that can express new technologies. I think Korean customers who have high standards (for EVs) will make the fairest judgment on BYD cars.”

By Kan Hyeong-woo(hwkan@heraldcorp.com)