BYD will launch its compact electric crossover, the Atto 3, in South Korea on Jan. 15, marking its entry into a major Asian market and the start of competition with Hyundai on its home turf, Korea JoongAng Daily reported. The Chinese electric vehicle giant will initially open 15 showrooms across the country, partnering with six dealers, including DT Networks, a partner of BMW Korea, and China’s Harmony Automobile, a Hong Kong-based dealership group, according to the report. China’s largest EV maker expects sales to grow by 40% to 4.25 million units this year, Chief Scientist Lian Yubo said last week. By comparison, Hyundai has set a target for a 0.6% increase in annual global sales to 4.24 million units, while affiliate Kia aims to sell 3.2 million units in 2024, Reuters reported. [Korea JoongAng Daily, Reuters]
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