BYD Korea's Sealion 7 is displayed at its showroom at the Starfield Anseong shopping mall in Gyeonggi Province.
Courtesy of BYD Korea Chinese carmakers are rapidly cementing their presence across Korea's automotive industry by expanding beyond low-priced electric vehicles (EVs) into strategic investments and critical supply chains.
This puts their Korean counterparts in a state of growing dilemma over their future strategy, as the pace of Chinese carmakers’ inroads is widely seen as much faster and far-reaching than expected.
The latest in a series of such moves came on Sunday when KGM signed a strategic investment agreement with China’s Chery Automobile.
Under the agreement, Chery will invest $75 million in KGM and jointly develop mobility technologies with the Korean automaker.
