Chinese electric vehicle corporation BYD has established a used car import and distribution corporation in South Korea.

According to the automobile industry on the 16th, BYD recently established a separate corporation, BYD Korea Auto, from BYD Korea and registered the business purpose as "import and distribution of used cars, etc." As a result, it is expected that BYD Korea will handle new car sales while BYD Korea Auto will be responsible for used car sales.

On Jan. 16, Jo In-cheol, the representative of BYD Korea's passenger vehicle division, and others are taking commemorative photos at the BYD passenger brand launch media showcase held at the Sang Sang Platform in Jung-gu, Incheon. /Courtesy of News1

BYD has been accepting pre-orders for its first domestic sales model, the compact Sports Utility Vehicle (SUV) Atto 3, since January 16, but has yet to deliver any. Although Atto 3 passed the certification process from three entities including the Ministry of Trade, Industry and Energy, the Ministry of Environment, and the Ministry of Land, Infrastructure and Transport last year, it has not completed the final step before delivery, which includes calculating the electric vehicle subsidies by the Ministry of Environment and registering the environmentally friendly vehicle notification with the Ministry of Trade, Industry and Energy.

A representative from BYD Korea noted regarding the establishment of BYD Korea Auto, "This was considered in light of the marketability of various business areas being developed in the country," adding, "There have been no specific decisions about future businesses yet."