How made-in-China captures one-third of Korea's EV market

HONG KONG — Electric vehicles (EVs) made in China now account for one in every three new EV registrations in Korea, as Tesla’s Shanghai-built models power the surge and Chinese carmakers start to gain traction. Chinese auto manufacturers have further room to expand, analysts said, supported by higher fuel prices linked to the U.S.-Israeli war on Iran and looser restrictions than traditional target markets. Still, they cautioned that tightening subsidy regimes could slow the pace of expansion. Sales of China-made EVs in Korea soared to 25,000 units in the first quarter of 2026, marking a 286.1 percent increase from a year earlier, according to data from the Korea Automobile and Mobility Association. Over the same period, Korean carmakers sold around 51,000 units, but grew at a much slower pace of 126.1 percent. The market share of EVs manufactured in China surged from 4.7 percent in 2022 to 33.9 percent last year, while that of Korean EVs fell from 75 percent to 57.2 percent, according to data released on April 22. “Most (Chinese) firms have identified overseas expansion as a growth

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