South Korea’s automotive production has seen a sharp decline amid rising competition from electric vehicle manufacturers, with Tesla and BYD expanding their market presence. The shift toward global demand for electric vehicles appears to be accelerating, leaving traditional automakers struggling to adapt. Industry analysts warn that the country’s dominance in conventional vehicle manufacturing may be fading as foreign brands capture share. The downturn raises questions about South Korea’s ability to maintain its position in a rapidly evolving automotive landscape.
South Korean auto output plunges as Tesla, BYD gain upi.com
