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BYD’s Korea Expansion Challenges Hyundai Dominance on Home Turf

Business - Latest - Google News·about 21 hours ago
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Takeaways by Bloomberg AI

When Lee Seongdong decided to replace his 2016 Chevrolet Spark in April, a two-year wait for Hyundai Motor Co.’s Casper Electric was already pushing him toward BYD Co.’s Dolphin. He was so impressed by the feature-rich ride that he signed a contract on the spot.

The price was attractive too: the Dolphin hatchback starts at 24.5 million won ($18,500), though discounts meant Lee paid less than 23 million won — similar to a subsidized Casper Electric, which can be bought at about 22 million won in Seoul, but only in its bare-bones trim. Combined with not having to wait for longer than South Korea’s mandatory military service to take delivery, the 47-year-old YouTuber said the BYD was “way too good to pass up.”