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BYD to face Tesla in new market [Feature]

Teslarati

BYD will be facing Tesla in a new market: South Korea. The Chinese automaker recently announced it would enter South Korea’s passenger car market next year. BYD entered the South Korean market in 2016 with commercial vehicles like buses, forklifts, and trucks.

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BYD will challenge Hyundai and Kia with low-cost EVs launching in South Korea

Baua Electric

China’s leading EV maker is set to drastically shake up the South Korean auto market. BYD officially announced plans to launch in South Korea with its low-cost EVs poised to challenge Hyundai and Kia on their home turf. The company is establishing a sales and service network in the region as it finalizes the details.

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Geely and Renault partner in South Korea to build hybrid and ICE vehicles

Green Car Congress

Zhejiang Geely Holding Group and Renault Group have signed a cooperation agreement to launch all-new vehicle lineup for the South-Korean market. Renault-Samsung Motors (RSM) will manufacture Hybrid Electric and Internal Combustion Engine Vehicles in Busan for the local market and for export.

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Hyundai Ends Kona EV Sales in South Korea

The Truth About Cars

Hyundai Motor Company will end sales of its best-selling electric vehicle, the Kona EV, after a series of fires and faulty braking systems prompted mass recalls in South Korea. According to Reuters, Hyundai was reviewing the end of Kona EV sales in South Korea, while an unidentified source said sales would continue in Europe.

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Mercedes-Benz Cars tripled global sales of xEVs in 2020; 7.4% of sales

Green Car Congress

We more than tripled sales of our plug-in hybrids and all-electric cars. Sales of plug-in hybrids almost quadrupled to more than 115,000 units. kWh/100 km) achieved sales of about 1,700 vehicles. With sales of 2,164,187 units (-7.5%), Mercedes-Benz maintained a leading global position compared with its core competitors.

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IHI and Hyundai WIA form turbocharger JV in South Korea

Green Car Congress

Market demand continues to grow in line with new down-sized engines and government regulation for fuel consumption and exhaust emissions. IHI Group’s Turbocharger business aims at a target of 10 million units per year sales. 1 brand in Asia through the joint-business in South Korea.

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BloombergNEF expects 40% growth in global EV sales in 2019; 2.6M vehicles, 1.5M in China

Green Car Congress

million units—around 57% of the global market. China’s market is in transition, and the recent annual doubling of sales every year looks unlikely to hold in 2019. Broader macroeconomic factors (higher interest rates and slowing consumer spending) will also impact global sales.

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