BYD’s entrance into the South Korean commercial vehicle market is viewed as a strategy to establish a premium image before introducing passenger vehicles to the Korean market. (Image courtesy of Yonhap)
SEOUL, April 6 (Korea Bizwire) — China’s largest electric vehicle manufacturer, BYD, has introduced its T4K electric small truck to the South Korean market through its official importer, GS Global.
At a showcase event in Seoul on Thursday, BYD’s 1-ton electric truck was unveiled, and it was announced that sales would commence.
Surprisingly, BYD set the ex-factory price of the T4K higher than domestic 1-ton electric trucks, contrary to expectations of a low-cost policy.
This move is widely believed to be a strategic move aimed at challenging the perception that “Chinese-made is low quality” and positioning itself as a premium brand.
Despite the higher price tag, consumers can benefit from subsidies, which should reduce the actual cost to around 19 million won (US$14,400).
The T4K is equipped with a “blade battery,” which is an advancement on conventional lithium iron phosphate (LFP) batteries in terms of volume and thermal stability.
The T4K has an 82 kWh battery, the largest capacity among 1-ton electric trucks in Korea, and can travel up to 246 kilometers at room temperature and up to 209 kilometers at low temperature on a single charge.
Furthermore, the T4K is the first commercial vehicle in Korea to have V2L (electric vehicle two-way charging), which is not available on competing models.
GS Global and BYD plan to cooperate with Kakao Mobility to sell the T4K through the “Buy T4K Truck” service on the KakaoT mobile app.
BYD’s entrance into the South Korean commercial vehicle market is viewed as a strategy to establish a premium image before introducing passenger vehicles to the Korean market.
The industry is closely watching when BYD’s electric passenger vehicles will enter the domestic market, considering that the company sold 1.86 million electrified vehicles worldwide last year.
M. H. Lee (mhlee@koreabizwire.com)
