China-made EVs, led by Tesla and BYD, are challenging the market dominance of local brands Hyundai and Kia. The market share for Chinese-manufactured EVs in South Korea surged to 33.9% in 2025. This represents a significant increase from the 4.7% share recorded in 2022. These vehicles accounted for 30.9% of all EV registrations in the first quarter of 2026.
Tesla drives this expansion by sourcing vehicles for the South Korean market from its Shanghai factory. Both Tesla and BYD utilize aggressive pricing strategies to capture market share.
Imported EV sales jumped 392.3% year-over-year in April 2026. This growth brought the imported share of the domestic EV market to 47.1%. The Tesla Model Y ranked as the second best-selling car model overall in South Korea during April.