BYD to Launch Plug-in Hybrid in Korea and Exhibit at Busan International Mobility Show

BYD Korea held a briefing in Seoul on June 17 to introduce its DM-i Super Hybrid technology and announced plans to launch plug-in hybrid electric vehicles (PHEVs) in the Korean market. The company stated that unlike current European-brand PHEVs, which follow a "fuel-dominant, electric-assist" approach, BYD adopts an "electric-dominant, fuel-assist" technical strategy. Despite South Korea’s reputation as a “graveyard for plug-in hybrids,” BYD believes its PHEV products offer differentiated advantages and expects strong sales performance. According to BYD, gasoline-powered and conventional hybrid vehicles still dominate the Korean market. Although EV sales are growing, PHEVs are expected to see even greater demand, potentially reaching about three times the sales volume of battery electric vehicles (BEVs). Specifically, the company forecasts monthly sales of its newly launched SEALION 6 PHEV model to range between 1,000 and 2,000 units. Additionally, BYD Korea will make its debut at the 2026 Busan International Mobility Show, held from June 26 to July 5 at the Busan Exhibition and Convention Center (BEXCO), where it will showcase its DM-i technology to local consumers. According to data from the Korea Automobile Importers & Distributors Association (KAIDA), new registrations of imported passenger cars in South Korea totaled 29,860 units in May 2024, up 5.9% year-over-year. Cumulative registrations for the first five months of 2024 reached 145,973 units, a 32.3% increase compared to the same period last year. In May’s import brand sales rankings, Tesla led with 10,866 units, followed by BMW and Mercedes-Benz in second and third places, respectively. BYD recorded 1,032 registrations in May, ranking seventh among imported brands.