[Q&A] "Discussed Ato3 Price with Headquarters Until Last Night... Reasonable Price"

Possible in the High 20 Million KRW Range with Subsidies
"We Will Target the Korean Market by Emphasizing 'Tech Company' Status"

On the 16th, the BYD Atto 3, officially launched in Korea, was unveiled at the 'BYD Brand Launch Media Showcase' held at Incheon Sangsang Platform. Incheon - Photo by Kang Jin-hyung

Chinese electric vehicle manufacturer BYD has officially announced its entry into the domestic passenger car market, starting with the mid-size sport utility vehicle (SUV) Atto 3. The official price is 31.5 million KRW, and considering electric vehicle subsidies, it is expected to be available for purchase in the 20 million KRW range. Rather than setting a specific sales target, BYD plans to increase customer touchpoints as much as possible to overcome Korean consumers' preconceived notions about Chinese cars.

On the 16th, BYD Korea held a press conference at Incheon SangSang Platform, announcing the domestic launch of three models: Atto 3, Seal, and Sealion 7. Pre-orders for the Atto 3 began on the same day, with deliveries to customers starting next month. The Seal and Sealion 7 are currently undergoing domestic certification processes.

The biggest competitive advantage of the Atto 3 is its price. The base trim is priced at 31.5 million KRW, and the higher trim, 'Atto 3 Plus,' is 33.3 million KRW. Although it is equipped with lithium iron phosphate (LFP) batteries, which have a lower recycling rate and are expected to receive smaller subsidies compared to domestic vehicles, the actual purchase price is still expected to drop to the 20 million KRW range. Considering that the model was first launched in Japan at 4.5 million yen (about 42 million KRW) and in Germany starting at 37,990 euros (about 57 million KRW), this indicates a strong commitment to targeting the Korean market.

BYD plans to sequentially open 12 service centers through domestic dealers and offer various benefits to customers, including a 6-year/150,000 km warranty (8 years/160,000 km for the high-voltage battery), four free inspections, and six years of free towing. The strategy is to increase customer touchpoints and break down prejudices.

Below is a Q&A session with BYD executives.

On the 16th, BYD vehicles were unveiled at the 'BYD Brand Launch Media Showcase' held at Incheon Sangsang Platform. Incheon=Photo by Kang Jin-hyung

Q The price is quite affordable; what was the basis for this pricing?

A (Liu Xueyang, General Manager of BYD Asia-Pacific Automotive Sales Division)

The Atto 3 is loved both domestically and internationally. The price set for the Korean market is reasonable. Once Korean consumers experience the Atto 3 in the market, they will recognize its value.

Q How will the prices for the Seal and Sealion 7 be determined?

A (Jo Incheol, Head of Passenger Vehicle Division, BYD Korea) The price for the Atto 3 was decided after discussions with the Chinese headquarters as recently as last night (the 15th). This shows how carefully we considered it. The prices for the other models will be decided and announced in due course.

Q Why was the small electric hatchback 'Dolphin,' which was expected to be released earlier, not included in the launch lineup?

A (Jo Incheol, Head of Passenger Vehicle Division, BYD Korea)

The Dolphin is currently undergoing domestic certification. We have not finalized plans to introduce it to the Korean market. We will provide updates once a decision is made.

Q What is the sales volume target for the domestic market?

A (Jo Incheol, Head of Passenger Vehicle Division, BYD Korea) Approaching customers is the most important goal rather than focusing on sales volume. We do not intend to aggressively push for sales targets.

Q The Atto 3 has a driving range of 321 km under combined ambient temperature conditions. Consumers expect at least 400 km. What are your thoughts on this?

A (Jo Incheol, Head of Passenger Vehicle Division, BYD Korea) Although some say the Atto 3’s driving range is short, we believe it is optimized.

Q There are significant concerns about information security because it is a Chinese car. What preparations have you made?

A (Jo Incheol, Head of Passenger Vehicle Division, BYD Korea) All information is handled on servers located domestically. We have been extremely cautious from the start to prevent personal information from leaking to China. We are making every effort to ensure that information does not leave Korea, so we ask for your trust.

Q At what sales volume would you consider establishing a factory in Korea instead of importing vehicles?

A (Liu Xueyang, General Manager of BYD Asia-Pacific Automotive Sales Division) There are no plans to establish a factory in Korea. Our purpose for entering the Korean market this year is not about selling a certain number of vehicles. Our most important goal is to allow Korean consumers to experience BYD as much as possible.

Through BYD electric vehicles, we want Korean consumers to realize that electric cars are not just transportation but essential lifestyle items. Our goal is for every store to become a must-visit place for influencers and customers alike. We will strive to ensure maximum satisfaction in the Korean market and among consumers.

Q When can we expect to see autonomous driving features like ADAS 3.0 in Korea?

A (Jo Incheol, Head of Passenger Vehicle Division, BYD Korea) We are preparing various things.

Q Previous attempts by other Chinese passenger car brands to enter Korea failed due to after-sales service networks and parts supply issues. What is BYD’s response policy?

A (Jo Incheol, Head of Passenger Vehicle Division, BYD Korea) We are very sincere about service. Although expanding the service network will take time, we are committed to doing so and are putting our utmost effort into it. Parts prices have also been set very reasonably. The transit time from China to Korea is very short. BYD is well-equipped to handle logistics, so we are confident there will be no major issues.

Q There are strong concerns in Korea about imported electric vehicles catching fire. What is BYD’s marketing strategy?

A (Jo Incheol, Head of Passenger Vehicle Division, BYD Korea) Basically, we plan to emphasize that we are a 'tech company' in the Korean market. We use LFP batteries, specifically BYD’s unique Blade Battery. BYD started as a battery company, so our battery technology is superior to any other company. We have ensured solid safety.

Q The Seoul Mobility Show seems like a great opportunity for promotion. Will you be attending?

A (Jo Incheol, Head of Passenger Vehicle Division, BYD Korea) Yes, we will attend.