Chinese electric vehicle (EV) manufacturer BYD is stepping up its efforts to grow in South Korea, aiming to double its sales and service network and launch additional models by the end of the year, the company said Thursday.
“We will increase our sales network to 30 by end of this year from 15 to meet demand from Korean consumers,” said Liu Xueliang, general manager of BYD’s Asia Pacific auto sales division, during the Seoul Mobility Show in Ilsan, Bloomberg reported.
See also: BYD Secures Over 1,000 Preorders for Atto 3 in South Korea in First Week
At the show, BYD unveiled its Seal mid-size electric sedan, starting at 47.5 million won ($32,580) before government subsidies. The company’s display was one of the largest at the event, featuring six models aimed at gaining visibility among consumers and media in a market traditionally dominated by local manufacturers such as Hyundai.
In a separate report from The Chosun Daily, BYD was also said to be expanding its service centers in South Korea to 25 locations by year-end, up from the current 12. The automaker plans to officially launch the Atto 3 compact SUV this month at a price point of around 30 million won, followed later in the year by the Seal and the Sealion 7, a mid-size SUV.
See also: BYD Enters South Korea’s Passenger Car Market, Competes with Hyundai
“In our first year in South Korea, we are focusing on laying the groundwork rather than setting sales targets,” said Cho In-chul, managing director of BYD Korea’s passenger car division, according to The Chosun Daily.
BYD entered the South Korean passenger car market on January 16 with the launch of the Atto 3, initially slated for delivery in mid-February. However, the release was postponed due to delays in finalizing government subsidies, which were confirmed only on April 2.