BYD's small-sized SUV the Atto 3 (Screenshot from BYD's website)
BYD's small-sized SUV the Atto 3 (Screenshot from BYD's website)

The first model from Chinese electric vehicle maker BYD to be sold in South Korea is expected to be its compact sports utility vehicle the Atto3, while the world's largest EV maker is set to make an official entry into the Korean market on Thursday.

The Atto 3 is expected to be the first to clear environmental regulatory hurdles among BYD's four cars being prepared for launch in Korea.

It is likely to receive emissions and noise certification from the National Institute of Environmental Research, the certification body of Korea’s Ministry of Environment, as early as Monday, ahead of the other models. The remaining models awaiting certification are mid-size sedan the Seal, hatchback the Dolphin and SUV the Sealion 7.

The Atto 3, measuring 4,455 millimeters in length, is expected to be available to consumers in early February, following administrative procedures to confirm the EV subsidies offered. Experts believe this process will take less than a month.

Being powered by a lithium iron phosphate battery, Atto 3 is expected to receive smaller amount of subsidies from the Korean government than that of Korean EVs using lithium-nickel-manganese-cobalt-oxide, or NCM batteries, according to the subsidy standard announced by the Environmental Ministry on Jan. 2.

Experts expect the price of the Atto 3 in Korea will be set around 30 million won ($20,341), which could pose a threat to local carmakers in terms of price competitiveness.

“The Atto 3 is proven for its quality, convenient size and smooth performance in other markets. With these qualities, BYD’s headquarters in China will attempt to penetrate the Korean market through price competitiveness. I believe it would be priced 3 to 4 million won lower than Korean EVs of similar quality,” said Kim Pil-su, a car engineering professor at Daelim University.

By Lim Jae-seong (forestjs@heraldcorp.com)