BYD has quickly made its mark in the South Korean electric vehicle market, delivering 1,000 units of its compact electric SUV Atto 3 within less than two months of the model’s launch. The milestone was reached on May 28 at BYD Korea’s Seoul Seocho showroom, marking a strong market entry for the Chinese new energy vehicle (NEV) manufacturer.
The Atto 3, known as the Yuan Plus in China, began deliveries in South Korea on April 14, after a delay from an initially planned mid-February rollout due to subsidy certification issues. Despite the delay, the model’s popularity surged rapidly, with over 1,000 pre-orders reported in its first week.
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According to customer data from last month, the Atto 3 appeals across age groups: 20-30 year-olds make up 20 percent of buyers, while customers in their 40s and 50s represent 30 percent and 32 percent respectively, and those over 60 account for 18 percent.
In April, BYD sold 543 Atto 3 units in South Korea, outperforming Tesla’s Model Y Long Range Edition (533 units) and Model 3 Long Range Edition (350 units), according to the Korea Automobile Importers & Distributors Association. The Atto 3 captured a 14.6 percent share of the imported EV market, which totaled 3,712 units in April.
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The Atto 3 was first launched in China in February 2022 as BYD’s first global model, priced from RMB 115,800 ($16,340). In South Korea, its starting price is KRW 31 million ($22,550), with national and local subsidies bringing the cost down to approximately KRW 20 million.
BYD officially entered South Korea’s passenger vehicle market earlier this year, following its previous focus on commercial vehicles in the country. The Atto 3’s swift acceptance and strong sales performance demonstrate BYD’s growing footprint in the competitive South Korean EV market.