Toyota expands plug-in hybrid lineup in South Korea

South Korea’s plug‑in hybrid vehicle (PHEV) market has long lacked domestic models, with no Korean‑made PHEVs on sale despite earlier attempts by Hyundai, Kia and GM. Statistics show that among new imports priced around 30 million won, only a handful of hybrids were registered and none were PHEVs. The absence is attributed to limited consumer demand, high prices, and the removal of a 5 million‑won government subsidy in 2021.

Importers are now targeting the gap. Toyota introduced two PHEV trims of the new RAV4, offering electric‑only driving for short trips while retaining a gasoline engine for longer distances. Chinese manufacturer BYD launched a mid‑size SUV, the C‑Series, priced around 37.5 million won, undercutting local hybrid SUVs. Toyota reports that the share of PHEV contracts has risen from about 30 % at launch to roughly 40 %.

Industry analysts note that falling battery costs and expanding charging infrastructure could make PHEVs a viable intermediate step for consumers hesitant to switch directly to full electric vehicles, though the overall market size remains uncertain.