Premium electric SUV segment becomes increasingly contested in Korea

Global automakers are joining a full-fledged race for the premium electric SUV market in Korea, with major German, European and Chinese brands rushing to launch their new strategic models here. The segment has recently emerged as a major battlefield for the auto industry, as customers are getting more responsive to all-electric cars than before. This is evidenced by solid sales from such models, including Audi Korea’s Q4 e-tron and Porsche Korea’s Macan Electric. Mercedes-Benz Korea and BMW Korea are also expanding their push into the electric SUV market, so they can secure a bigger share in the emerging yet lucrative premium electric SUV segment. Of particular interest is that what was once a competitive landscape dominated by the three German luxury carmakers is now evolving into a more intense battleground, with Volvo and emerging Chinese brands, such as Zeekr, joining the fray. BMW Korea is set to launch its strategic electric SUV — the iX3 — in the third quarter of this year. The vehicle made headlines as the carmaker’s first model under the Neue Klasse electric-only platf

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