Tesla and BYD Dominate South Korea’s Imported EV Market in 2025
Tesla’s Model Y and BYD’s affordable models are reshaping South Korea’s electric vehicle landscape, outselling domestic giants Hyundai and Kia. The Model Y alone accounted for over 50,000 units last year, capturing more than half of the imported EV market. BYD’s rapid ascent, driven by competitively priced offerings like the Atto 3, underscores a broader shift toward foreign EVs.
Imported EVs now represent 18% of South Korea’s car market, up from less than 10% in 2023. Tesla leads with 60,000 units sold, followed by BYD at 6,107. German automakers—BMW, Audi, and Porsche—trail significantly, while Polestar’s sales surged 269%, securing sixth place.
Price reductions, particularly for Tesla’s Shanghai-made Model Y, have fueled demand among younger buyers. The base Model Y, introduced in 2023 at approximately 20 million won, exemplifies this aggressive pricing strategy.
