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Tesla’s affordable Model 3 could arrive in Korea late 2018
Collected
2017.08.04
Distributed
2017.08.07
Source
Go Direct
Tesla’s much-awaited mass-market electric car Model 3 that began sales in the U.S. could become available in Korea around the end of next year. With government subsidy on EVs, the car could be carrying a reasonable price tag in the range of 20 million won ($17,750).

Preorders average 1,800 units per day, Tesla Chief Executive Elon Musk said in a conference call Wednesday. At this rate, the company would be selling 650,000 units within the year, according to industry experts. Musk revealed last week that preorders for Model 3 have already surpassed 500,000 units.

Tesla Model S, which began selling in Korea in June, has a starting price of 90 million won. Pricing of Model 3 will start from 39 million won but could come down below 30 million won with subsidy.

Model 3 is unrivaled in performance against its peers. It can run up to 338 kilometers on a single charge, compared with Hyundai Motor’s Ioniq at 191 kilometers. Acceleration from a complete stop to 100 km/h just takes six seconds. Comparable local midsize sedans take 9-10 seconds.

A key concern in the industry is whether Tesla’s production capacity would meet its demand. Tesla can produce around 70,000 to 80,000 units annually, which falls short of current demand. The company acknowledged its limited capacity and said it would ramp up production next year to make an annual 500,000 units, including Model 3.

By Park Chang-young

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]