April 26, 2024

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[THE INVESTOR] Tesla Korea, local unit of iconic EV maker, is planning to launch Model X SUV in the market later this year, according to the carmaker on Aug. 1. 

Tesla aims to complete the certification process and sell Model X in the country by end of this year to expand the car lineup, adding to the Model S sedan, the first and only Tesla car that sells in Korea. 

Model X, which can seat up to seven people, boasts a driving range of more than 400 kilometers on a single charge. Tesla’s luxury SUV is priced around US$80,000. 

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Tesla’s first mass-market car Model 3, which made a grand debut in the US last week, is set to arrive in Korea around the end of next year. 

Due to the large volume of preorders, estimated at around 500,000 people worldwide, it will take a while for Tesla’s affordable Model 3 to arrive in Korea, like elsewhere in the world. 

The carmaker opened two showrooms in March -- one in the shopping mall Starfield Hanam that is owned by Shinsegae Group and the other in Seoul’s post district Cheongdam-dong. 

Tesla began delivering Model S vehicles -- available in three trims including 75D, 90D and 100D depending on the battery size -- to customers in June.
With the first car delivery, the EV maker is enhancing its presence in the country. 

Seven high-speed supercharger stations are running across the country, including three in Seoul and one each in Daegu, Busan, Cheonan and Wonju. Tesla Korea is planning to install seven additional sites by the year-end, including Jeju Island, Gwangju, and Seoul’s Itaewon and Apgujeong.

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