Tesla leading in electric vehicle sales in South Korea
3. September 2020Tesla is boosting sales of electric vehicles in South Korea and making them more attractive to the general public. Previously, the car manufacturer had difficulties entering the Korean market. Potential buyers of Tesla vehicles were not entitled to the government’s generous bonuses of up to $21,000 for the purchase of electric cars. The reason was a regulation that vehicles eligible for the subsidy must be fully charged within 10 hours at a conventional power outlet.
This gives advantages to vehicles with smaller batteries and a shorter range. Models with larger batteries and range, such as Tesla’s, can be fully charged within 10 hours but require a special charging station with a high-voltage connection. The Korean government recognized this shortcoming and changed the regulation in July 2017, but Tesla’s S and X models remained too expensive. Only last year, when Tesla offered the Model 3 in South Korea, sales figures increased. Deducting the state premiums, the vehicle costs only $26,000. The launch of Tesla’s best-selling model has also significantly increased the acceptance and popularity of electric cars in South Korea.
For the first quarter of 2020, Korean automobile associations reported a 40 percent increase in sales of electric vehicles. Tesla sales rose to 4,075 vehicles from 236 last year, following the introduction of the affordable Model 3 in November. Korean manufacturers delivered 10,161 vehicles in the same period. However, this figure includes light commercial vehicles such as the Hyundai Porter II Electric, which was the most sold. In contrast, Tesla is the market leader for passenger vehicles. Other foreign manufacturers have only a small market share in electric cars. BMW delivered only 53 vehicles, Mercedes-Benz 23 and Jaguar 14. MPR International GmbH will be happy to advise you on Korean certification for automotive components. We have already successfully assisted many large automotive suppliers and also vehicle manufacturers with locations in Korea in their certification projects and have been supporting these companies for several years. Our experts are available to you at any time by phone or e-mail for questions regarding an upcoming Korea certification.
South Korea is considered one of the most important and innovative industrial nations in the world. To gain market access to this highly technological country, many products imported into South Korea must be tested and certified. The KC-Mark or KC certificate corresponds approximately to the European CE mark and applies to 730 different products, including many electronic products. Since 2005, MPR International has been supporting companies worldwide in the certification of products for the markets of Korea, China, Taiwan and India. MPR International offers you a complete package for certification in which you are excellently supported. We are available to you at any time for questions without obligation.
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