Foreign automakers are strengthening their electric vehicle strategies in South Korea as surging oil prices accelerate demand for lower-cost EVs. Sales figures for January to April show strong growth for brands including BYD and Audi.
According to the Korea Automobile Importers & Distributors Association, BYD Korea sold 5,991 EVs from January to April and ranked fourth among imported brands. This represents roughly 1,000 percent growth from 553 units sold in the same period last year.
Data from the Korea Automobile & Mobility Association showed total EV sales in the country rising 155.8 percent year-on-year to 87,683 units in the first quarter. Audi Korea posted the fastest growth at 42.5 percent, driven by strong demand for its Q4 e-tron electric SUV.
Mercedes-Benz recently held the world premiere of its all-electric C-Class in Seoul, while BMW Korea plans to launch its new iX3 electric SUV in the third quarter. Figures from the Ministry of Climate, Energy and Environment indicate that registered EVs in Korea surpassed one million on April 15.