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Tesla Model 3 fever hits South Korea as crowds flock stores to see the ~$26.5k EV

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The Tesla Model 3 fever seems to have struck South Korea. Only days after the electric automobile maker opened orders of the electric sedan, large crowds of enthusiasts and prospective electric car buyers have started heading into South Korean Tesla stores to take a look at the tumultuous vehicle. 

Images of long lines of folks waiting to find the electric sedan proved recently shared by South Korean Tesla public members. One of them depicted a crowd of curious people lining up outside a Tesla shop to take a look at the vehicle. The scene in South Korea’s outlets populate images of the Model 3’s earlier days, if the Model 3 was still only making its way round the US and in select international markets. 

Today major bunch of people are waiting to take a look at the Tesla Model 3 at South Korea 🇰🇷, as a result of the gov incentivesthat the SR+ is beginning from under $27k USD, demand is huge. $TSLA #Tesla #Model3 #SouthKorea https://t.co/yOtvrem6ZA

— Vincent (@vincent13031925) August 15, 2019

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A vital reason behind South Korea’s notable interest in the Model 3 might lie at the automobile ’s price and its related subsidies from the local and national governments. Tesla lists the Model 3 Standard Range Plus having a beginning price of 52 million won (about $43,000) to South Korea, however thanks to an EV subsidy of 9 million won (about $7,400) from the federal government and up to 11 million won (about $9,100) from a select provincial governments, the electric sedan could start as low as 32 million won (approximately $26,500) because of its foundation trim. 

This price enables Tesla to tap to South Korea’s mainstream EV market, which, very similar to some other Asian nations like China, is on the rise. Amidst competition from other persuasive, cheap EVs from local producers like Hyundai and Kia, the Model 3 Standard Range Plus and its ~$26,500 adjusted beginning price could end up being a bang-for-the-buck method for EV buyers to access into the Tesla ecosystem

Tesla Korea into Start Deliveries of Model 3 in Q4 at S, Korea $TSLA #Tesla #Model3 pic.twitter.com/orUnBjJUUo

— Vincent (@vincent13031925) August 14, 2019

Tesla was in South Korea since 2017, although the company’s previous automobiles, both the Model S and Model X, were equally positioned as premium electric cars that compete with expensive luxury vehicles from seasoned brands. The flagship automobile and SUV start at 111 million won (about $91,500) and 119 million won (approximately $98,000) ahead of incentives in South Korea, which places them out of reach mainstream auto buyers. Tesla seems intent on changing this together using the Model 3. 

Tesla formally opened orders to the Model 3 at South Korea that Tuesday, and recent reports have indicated that vehicle deliveries may commence as early as the fourth quarter of 2019. Once delivered, Tesla Model 3 owners in the nation, besides being able to charge their vehicles from the comfort of their homes, will have the ability to charge their electric sedan together with one of the 22 Superchargers and 172 Level 2 dishwashers that were set up by the company to date.

The article Tesla Model 3 psychologist hits South Korea as crowds flock stores to find the ~$26.5k EV appeared first on TESLARATI.

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