BYD wants to win over South Korea with $21,600 electric car [Fortune]
GEELY AUTOMBL HL UNSP/ADR (GELYY)
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Source: Fortune
share from legacy local brands [hotlink]Hyundai Motor[/hotlink] Co. and Kia Corp. BYD is already taking reservations for the Atto 3, which will cost 31.5 million won ($21,600) for the basic model and 33.3 million won for the upgraded Atto 3 Plus, Inchul Cho, managing director at BYD Korea's passenger-car business, said Thursday. The automaker is also set to release the Seal electric sedan and Sealion 7 in the second half, Cho said, without disclosing prices. The Atto 3's cost excludes tax credits and subsidies. It's the lowest price for the model outside of China and is cheaper than almost all offerings from Hyundai and Kia, the domestic powerhouses that dominate the market. “We really thought about pricing for Atto 3 a lot,” Cho said. “Korean consumers have a very high standard for a car, so we thought it would be better for them to experience our cars more. The headquarters of BYD made a special offer for the Korean market.” Headwinds Chinese automakers are increasingly lo
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