I heard there's no business ahead of the price.The world's No. 1 Chinese electric car is coming to Korea.

[Anchor]
China's 'Byadi', which is leading the global electric vehicle market over Tesla, will enter Korea next year.

It has targeted the global market with cheap prices, and attention is focusing on whether this strategy will work for the domestic market as well.

Reporter Choi Ah-young reports.

[Reporter]
Chinese electric car maker BYD has officially announced its entry into the Korean passenger car market early next year.

BYADI is China's largest EV maker and leads the global market by beating Tesla Inc TSLA.

This is the result of targeting the market with low prices as a weapon.

As a car to be introduced in the Korean market, the main product, a small electric SUV, is expected to be the most likely.

It is sold in the early 20 million won range in China, and it is expected to be released in the early 30 million won range when tariffs and importer margins are added.

It is about 5 million won cheaper than Hyundai Motor and Kia's low-cost electric cars.

Right now, the domestic automobile industry is on high alert.

This is because Chinese electric vehicles are eating into the market to the extent that even Volkswagen, a European car powerhouse, is considering closing its German plant.

[Lee Hang-gu / Director of Automotive Convergence Technology: Since the performance is much better than we think and it has price competitiveness, as a result, consumers will search for it in the beginning even when it enters the domestic market, but if it starts to sell, there is a possibility that demand will increase quickly.]

In addition, if BYD performs well, there is a high possibility that numerous additional electric vehicle companies in China will land in the Korean market.

Attention is focusing on whether Chinese electric vehicles using price as weapons will be able to overcome distrust and capture the hearts of domestic consumers who are strict about quality.

I'm YTN's Choi Ayoung.


Video editing: Eunkyung Lee
Design: Lee Na-young