‘Atto 3’ Fails to Meet Subsidy Standards
Delayed Delivery, Uncertainty Over Pricing in 20 Million Won Range,
BYD Atto 3. Yonhap News,
, ‘BYD, which garnered attention as the first Chinese company to enter the Korean electric passenger car market, has encountered obstacles from the start. The domestic release schedule has become tangled, preventing it from fulfilling its promise to deliver to customers last month. It has been reported that the car does not meet the criteria for subsidy payments. The realization of the ‘mid-20 million won actual purchase price,’ which BYD touted as its biggest competitive advantage, is also uncertain.’,
,
, ‘According to the automotive industry on the 2nd, BYD held a brand launch event in South Korea on January 16 and began taking pre-orders for the mid-sized electric sports utility vehicle (SUV), Atto 3. They promised to deliver around mid-February, but the cars have yet to be delivered due to unresolved subsidy determinations. Selling electric vehicles in Korea requires not only government certification procedures but also a report to the Ministry of Trade, Industry, and Energy, and confirmation of the electric vehicle purchase subsidy from the Korea Environmental Corporation.’,
,
, ‘It is known that the delay in BYD Korea’s submission of basic information required for subsidy confirmation was due to Atto 3 not meeting South Korea’s strengthened subsidy criteria for this year. The Ministry of Environment has decided that only electric vehicles equipped with manufacturer liability insurance and a State of Charge (SoC) function for battery level information will receive subsidies. The Atto 3 does not include the SoC function. It has been reported that BYD Korea submitted a commitment to include this function through a software update within a year. If the Ministry does not accept this, the Atto 3 might not receive any subsidy at all. In that case, offering the Atto 3 at a price in the high 20 million won range becomes impossible. Even if subsidies are approved, the release must wait until the Ministry of Trade officially announces them, so the earliest possible release is anticipated to be early next month.’,
,
, ‘Some critics suggest that BYD is hastily pushing for a market launch in Asia, including Korea, due to difficulties in exporting to major markets like Europe and the United States. The release was delayed by nearly a year in Japan, where BYD entered the market earlier than Korea, due to certification issues. A representative from BYD Korea stated, “We are actively cooperating with the government departments for quick subsidy evaluation and eco-friendly vehicle announcement,” adding, “Currently, it is difficult to specify a concrete delivery date. We are doing our best to ensure delivery within this month.”