Azernews.Az

By Alimat Aliyeva

Chinese electric vehicle (EV) maker BYD has officially become a member of the Korea Automobile Importers and Distributors Association (Kaida), the association announced on Wednesday. This move is part of BYD's strategy to establish a stronger presence in South Korea, Asia's fourth-largest economy, Azernews reports.

BYD first entered the Korean market in 2016, focusing initially on commercial vehicles such as forklifts, electric buses, and trucks.

In January, the company expanded its footprint in Korea by launching passenger models, beginning with the BYD Atto 3, a compact electric SUV. Later in the year, BYD plans to introduce two additional models — the midsize BYD Seal sedan and the BYD Sealion 7 SUV, according to Kaida's press release.

Kaida currently has 22 member companies, which represent 29 different brands of imported cars. Among its members, four commercial vehicle manufacturers are included, with a total of four brands.

BYD’s entry into the South Korean market signals the company’s ambition to expand its global footprint, especially in EV-friendly markets like South Korea, where demand for electric vehicles continues to grow rapidly. With major South Korean automakers like Hyundai and Kia leading the local EV market, BYD's strategic move to become part of Kaida allows it to strengthen its position as a competitor in the region. Moreover, as South Korea ramps up its efforts to transition to greener technologies, BYD’s expanded offerings in the passenger car sector are expected to bolster its reputation as a key player in the electric vehicle revolution, both in Asia and globally.