Story no.159InternationalOngoingSales and market +4Notable Several countries (3)1 Nov → 6 Nov36 facts · 112 art.
South Korea: The rise of Chinese EVs erodes the market share of local manufacturers
In South Korea, Chinese electric vehicle manufacturers, led by BYD, are accelerating their establishment and sales: models produced in China account for 43.5% of the battery electric vehicle passenger car market, and Chinese registrations have doubled in one year. This progress is weighing on Hyundai and other local brands, whose BEV market share has fallen below 50%, prompting calls to extend the production tax credit and to strengthen technology and after-sales service. The issue is primarily covered by the South Korean press, which emphasizes competitive pressure and the fiscal debate, while American, Chinese, British, and German media are following it more broadly.
In brief
Ongoing story bringing together 36 events involving BYD, Hyundai, Kia and 16 more, in 3 countries (Corée du Sud, Chine, Japon), followed from 1 November 2026 to 6 November 2026. 112 articles from 15 sources (sales and market, regulation and tariffs, plants, jobs and earnings and 2 more); last updated on 6 November 2026 at 14:34. Figures reported: 1000 vehicles, 410 jobs.
National stories
Confirmed(7)
- 13
The 2026 tax reform provides for a national production tax credit for EVs; lawmakers want to extend it to EVs.
13 independent sourcesautoherald.co.kr, 세무사신문, 더팩트, 동행미디어 시대, 서울경제 +7
- 8
XPeng has appointed Lee Man-sik, formerly of Volvo Korea, as general manager of its South Korean subsidiary starting December 1.
8 independent sourceschinaevhome.com, 亚洲日报, en.sedaily.com, Yahoo Finance, www.marketscreener.com +3
- 7
Over the same period, Chinese EVs accounted for 43.5% of registrations, and the share of domestic BEVs fell to 48.7%, below 50%.
7 independent sourcesautoherald.co.kr, 서울경제, 다나와 자동차, 지피코리아, 부산경남대표방송 KNN 뉴스 +1
- 6
- 2
From January to September 2026, 112,417 Chinese-branded electric vehicles were registered in South Korea, compared to 51,535 a year earlier, representing 2.2 times more.
2 independent sourcesautoherald.co.kr, 토픽트리
- 2
Chinese manufacturers are preparing a second wave of establishments in South Korea, with Chery, Xpeng, and Great Wall targeting 2027.
2 independent sources뉴데일리, Korea JoongAng Daily
- 2
Single source so far(3)
- BYD sold more than 20,000 vehicles in South Korea from January to September 2026, ahead of Toyota and Lexus combined, with deliveries rising by 11% in October. (according to ad-hoc-news.de)
- BYD moved up to fourth place in the South Korean automotive market. (according to en.sedaily.com)
- The government plans approximately 2,000 billion won in subsidies for around 430,000 EVs next year. (according to asiae.co.kr)
Updates(10)
- 5 Nov, 04h32South Korea fell behind China on the RCA index for EVs in 2025: 1.48 versus 1.49 (Korea was 3.02 in 2019).
- 5 Nov, 01h29New: Chery and Great Wall aim to enter the South Korean market by 2027.
- 4 Nov, 16h54BYD reaches fourth place in the South Korean market.
- 4 Nov, 12h22South Korea's share in global EV exports has declined to 4.6%.
- 4 Nov, 12h22BYD's deliveries in South Korea increased by 11% in October.
- 4 Nov, 12h22BYD is making progress in the South Korean ride-hailing market.
- 4 Nov, 09h18Zeekr hires an executive dedicated to government relations in South Korea.
- 4 Nov, 09h18New figure: Up to 2,200 billion won threatened by 2030.
- 4 Nov, 09h18New figure: BYD surpasses 20,000 sales in South Korea over the first nine months of 2026.
- 4 Nov, 04h46New: A project for 2,000 billion won in subsidies for approximately 430,000 electric vehicles next year.
AI cross-check of the headlines and extracts of 60 articles (48 outlets) · “confirmed” = reported by at least two independent outlets, or by the manufacturer’s official press room · 5 Nov, 04h32
Context and reference points, separate from the story's news. Every item links to its source; updated on 4 Nov
Key terms
- Production tax credit
- A tax credit is an amount subtracted from the tax that a business or individual must pay; it can be granted to encourage investments or other virtuous behaviors and, in some cases, be refundable when it exceeds the tax amount. Wikipedia
- EV purchase subsidy
- In an eco-bonus-malus scheme, the bonus is a financial aid that rewards individuals who purchase or lease under conditions a new vehicle emitting a limited amount of carbon dioxide (CO2) per kilometer, in order to steer consumption towards less emitting vehicles. Wikipedia
Timeline
newest firstDot = severity
- 14h34
LatestCorée du Sud : un éditorial presse d'accélérer le crédit d'impôt pour les VE
Un éditorial de presse sud-coréen appelle le gouvernement à accélérer les discussions sur le crédit d'impôt à la production de véhicules électriques face à l'avancée des modèles chinois.
뉴시스
- 09h00
Corée du Sud : les VE chinois à 43,5 % du marché, débat sur le crédit d'impôt à la production
Les véhicules électriques produits en Chine représentent 43,5 % du marché coréen des VP électriques. Le gouvernement et le Parlement discutent d'une extension du crédit d'impôt à la production locale, un plan de compétitivité étant attendu ce mois-ci.
autodaily.co.kr
- 03h05
La BYD Seal 6 DM-i dépasse 1 000 livraisons en Corée du Sud
La BYD Seal 6 DM-i franchit le cap des 1 000 livraisons en Corée du Sud et reste leader des hybrides rechargeables importés pour le troisième mois consécutif.
파이낸셜뉴스BigGo Financeautodaily.co.kr
- 09h32
South KoreaLes constructeurs coréens Renault Korea, KGM et GM Korea au plus bas face à Tesla et BYD
Les ventes de Renault Korea, KG Mobility et GM Korea tombent à des niveaux record à la baisse en Corée du Sud, sous la pression des importations de Tesla et de BYD. Les marques nationales perdent du terrain sur leur propre marché.
kedglobal.com
- 02h49
L'essor des véhicules électriques chinois menace la position de la Corée du Sud
L'expansion des VE chinois à l'export fragilise la place de la Corée du Sud sur le marché automobile mondial, selon une analyse de presse.
Koreabizwire
In figures
Countries concerned
Several countries (3)
Brands concerned
Key figures
- 1,000
- véhicules
- 410
- jobs
Highest number recorded in 11 article(s), automatically extracted: please check sources.
Sources by country and language
Press country
| Articles | Outlets | |
|---|---|---|
| South Korea | 78 | 43 |
| United States | 17 | 14 |
| China | 6 | 5 |
| Unknown country | 4 | 4 |
| United Kingdom | 3 | 3 |
| Germany | 2 | 1 |
| Italy | 1 | 1 |
| Japan | 1 | 1 |
Languages
| Articles | Outlets | |
|---|---|---|
| Korean | 73 | 40 |
| English | 34 | 24 |
| Chinese | 4 | 4 |
| Japanese | 1 | 1 |
Country of the outlet (not of the topic), inferred from its address and language. Each outlet counts once per row.
Further reading
Go up the thread
Events in the story
- Corée du Sud : un éditorial presse d'accélérer le crédit d'impôt pour les VE6 Nov
- BYD, Zeekr et Xpeng accélèrent leur implantation en Corée du Sud6 Nov
- Xpeng prépare son entrée en Corée du Sud et nomme un ancien de Volvo à la tête de la filiale6 Nov
- Corée du Sud : les VE chinois à 43,5 % du marché, débat sur le crédit d'impôt à la production6 Nov
- La BYD Seal 6 DM-i dépasse 1 000 livraisons en Corée du Sud6 Nov
- BYD dépasse 20 000 ventes en Corée du Sud sur neuf mois5 Nov
- Corée du Sud : un éditorial s'inquiète de la montée des VE chinois5 Nov
- Chinese brands gain ground in South Korea's imported car market5 Nov
- Les constructeurs coréens Renault Korea, KGM et GM Korea au plus bas face à Tesla et BYD5 Nov
- Les VE chinois menacent 2 200 milliards de wons de revenus en Corée du Sud d'ici 20305 Nov
Related stories
Marques et groupes concernés
Countries concerned