Tesla Launches Model Y in South Korea to Kick Off Lunar New Year

Tesla has launched sales of its Model Y compact crossover in South Korea on February 12, the first day of the Lunar New Year.

Tesla Korea says there are three trim levels of Model Y available:

• Standard Range RWD: 59.99 million won ($54,320 USD)
• Long Range AWD: 69.99 million won ($63,375 USD)
• Performance AWD: 79.99 million won ($72,430 USD)

https://twitter.com/lorakolodny/status/1360292352703811586

The South Korean government will provide subsidies to electric vehicles in 2021, priced below 60 million won.

Tesla’s entry Model Y squeezes in to qualify for full subsidies, while Long Range and Performance Model Y configuration can qualify for half, as they are below the 90 million won threshold, reports Yonhap News Agency.

Tesla Korea has the 5-seat Model Y available now, but the 7-seat option will debut later in 2021.

Also new in South Korea is the debut of the 2021 Model 3 with three trims, starting from 54.79 million won ($49,612 USD).

Tesla took 25% of EV sales in South Korea in 2020, according to data from the Korea Automobile Importers and Distributors Association and automakers. Out of imported EV units at 15,183, Tesla took nearly 78% of them, a sign there is demand for the vehicles on the Korean peninsula.

Back in 2019, Tesla launched the Model 3 in South Korea, while the Model X debuted in 2018.

In 2020, Tesla sold 11,826 cars in South Korea and these latest prices for 2021 Model 3 and Model Y that qualify for government EV subsidies surely help sales for the California company.