April 26, 2024

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[THE INVESTOR] Tesla Motor’s planned launch in Korea could be delayed until next year as the iconic EV maker has not received sales approval from the government.

As of Dec. 20, Tesla is not registered as an auto manufacturer by the Ministry of Land, Infrastructure and Transport, a mandatory step to be eligible to sell cars in the country, according to a ministry official. 

The manufacturer certification requires that the automaker has secured manpower and facilities for after-sales service that are set up locally. But Tesla had failed to meet the government’s prerequisites as it is still setting up the business operation.

Tesla had submitted the paperwork earlier for the registration, but the ministry disapproved citing insufficient information.

Tesla’s Korean officials were not immediately available for comment.

Once the automaker submits all the documents, it takes about 15 business days for the government to OK the registration. But with ten days left this year, industry watchers say Tesla’s market debut will be deferred to 2017.

Earlier, Tesla had said its first flagship showroom will open at Starfield Hanma Mall in the outskirts of Seoul by Nov. 29.

Meanwhile, Tesla is partnering with local retail giant Shinsegae to accelerate its charging infrastructure across the country. It plans to install Tesla destination charging network at 25 locations across Shinsegae’s retail outlets, including its department stores, E-mart stores, fashion premium outlets, Chosun Hotel and Starbucks, by the end of the first half of 2017.

Tesla also plans to build its supercharger stations -- capable of delivering up to half a charge of the vehicle in as little as 20 minutes -- at five locations in Korea next year. But the exact locations have not been disclosed.

By Ahn Sung-mi (sahn@heraldcorp.com)