Tesla further expands presence in S. Korea on EV demand

Oct 18, 2020

Tesla further expands presence in S. Korea on EV demand

Seoul (South Korea), Oct 18: Tesla Motors Inc. posted explosive sales growth in South Korea this year on the back of growing appetite for electric vehicles and fat subsidies, industry data showed on Sunday.
Tesla sold a total of 10,518 vehicles here from January to September, accounting for a whopping 79.6 percent of the country's EV sales, according to the data.
In September alone, the U.S. electric carmaker sold 2,056, making up more than 91 percent of the total EV sales here.
Other global automakers have been scurrying to expand their presence in the country's EV market but look pale in comparison with Tesla.
Tesla Korea sells models such as the Model 3, Model S and Model X in South Korea.
The Model 3, Model S and Model X are available at the starting prices of 54 million won (US$44,000), 114 million won and 121 million won, respectively.
Customers can purchase the models at lower prices with a central government subsidy of 8 million won and a provincial government subsidy worth up to 10 million won.
Since it entered the Korean market in March 2017, Tesla has built about 450 slow-charging stations and 32 superchargers across the country.
Source: Yonhap