April 26, 2024

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[THE INVESTOR] Tesla Korea held a small-size launch event on June 20, despite high market expectations and interest in the luxury EV maker.

The invitation-only event was held at a service center in Deungchon-dong, western Seoul, where the carmaker delivered Model S 90D sedans, the first Tesla car model on sale, to preorder customers. 

According to the carmaker, only some 120 people attended the downsized event, including Jon McNeill, head of global sales and services, and Tesla customers and their families.

“Tesla’s Model S is in the higher price range. Most of buyers are reluctant for wide media coverage,” a Tesla Korea spokesperson told The Investor. “It was a small event where we explained about the car and demonstrated the new services, including the semi-autonomous system Autopilot.”

Tesla founder and CEO Elon Musk, despite market speculation, did not attend the event.

The automaker’s luxury Model S 90D is priced at 115.7 million won (US$101,738). Due to its large-sized battery that requires a longer charging time, the 90D failed to meet the requirements for state subsidies of up to 22 million won.

Two additional trim levels Model S 75D and 100D are expected to be delivered next month.

Tesla opened two stores in March -- one in the shopping mall Starfield Hanam that is owned by Shinsegae Group and the other in Seoul’s posh district of Cheongdam-dong.

The carmaker has completed constructing four high-speed supercharger stations. The first station was installed at the underground parking lot of Grand InterContinental Hotel in southern Seoul in May, followed by three stations which opened on June 1 -- at Gran Seoul in Jongno-gu, Seoul; Tedin Resort in Cheonan, South Chungcheong Province; and Hansol Oak Valley Resort in Wonu, Gangwon Province.

In total, Tesla plans to build 14 supercharger stations across the country by the year-end.

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