Tesla is easily the world’s top-performing electric vehicle (EV) manufacturer, especially since it’s the only completely electric lineup on the market.
Now, it has been reported that Tesla accounts for the vast majority of EV sales in South Korea, according to the Yonhap News Agency (via Yahoo Finance). Tesla sold 10,518 EVs within South Korea, accounting for 79.6% of all EV sales in the country, according to industry data provided to the publication.
Within the month of September alone, Tesla sold 2,056 units total, which accounted for 91% of all EV sales in South Korea that month.
@Tesla has registered substantial growth in South Korea this year due to increasing demand for electric vehicles in the country, making up for 79.6% of electric vehicle sales in the country.#TSLA @elonmusk
— Anthony Field (@unFIELDtered) October 19, 2020
In South Korea, the Tesla Model 3, Model S, and Model X EVs are all available, priced starting at $44,000, $102,600, and $108,900, respectively. The government also offers subsidies for some of Tesla’s lower-priced models, up to $7,200 from the central government, and up to $9,000 from individual provinces.
Earlier in the fall, South Korean retail investors had become one of the largest Tesla traders in the market. The support from some of the country’s investors is a major sign of trust for the company from the general populace there.
Tesla also partners with LG Chem Ltd, a South Korean battery maker and lead supplier of the world’s EV batteries in the first half of 2020.
As Tesla’s presence in South Korea and beyond continues to grow, the market for EVs and sustainable transportation methods in general will continue to grow with it.
