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BYD Reportedly Expands into Used-Car Biz in S Korea
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BYD COMPANY (01211.HK)(002594.SZ) recently registered an independent legal entity in South Korea named "BYD South Korea Motors (literal translation of "比亞迪南韓汽車")", which specializes in the import and distribution of used cars, Yonhap News Agency reported, citing sources in the automotive industry. Industry insiders believe that, amid delays in delivering its first South Korean model, the ATTO 3 (Yuan Plus), BYD is opting to launch a used-car business to expand bulk sales targeting corporate clients. Regarding the registration of the new entity, Yonhap quoted BYD South Korea as saying that the move is primed at exploring diverse markets in South Korea, though no specific plans have been outlined at this stage. In mid-January 2025, BYD had held a brand launch event in South Korea and begun pre-sales of the ATTO 3. However, delivery had been delayed due to pending environmental-friendly vehicle declarations and subsidy certification processes with the Ministry of Trade, Industry and Energy. AAStocks Financial News |
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