Tesla Model Y Subsidy-Fully Funded Model Sales Halted

Tesla Model Y, unveiled for the first time in Korea last month

[Asia Economy Reporter Choi Dae-yeol] U.S. electric vehicle manufacturer Tesla has abruptly halted sales of the Standard Range trim of its mid-size electric sports utility vehicle (SUV) Model Y. This model, which was introduced domestically last month and sold from the 12th of this month, attracted attention as it was eligible for full government subsidies.

According to industry sources on the 22nd, Tesla removed the Model Y Standard Range trim order option from its global purchase websites, including South Korea, starting yesterday. The vehicle can travel up to 511 km on a single charge (based on the Long Range version) and was launched domestically for the first time in 1 year and 5 months since the 2019 Model 3, drawing interest. Notably, with a domestic selling price of 59.99 million KRW, it was the only trim eligible for full purchase subsidies from both the government and local authorities.

With orders no longer possible, only the Long Range (69.99 million KRW) and Performance (79.90 million KRW) trims remain available for order. The specific reason for discontinuing the Standard model sales has not been disclosed. Industry insiders speculate it could be due to policy reasons such as profit margins or vehicle defects. It is also reported that it has not yet been decided whether customers who ordered this model will receive their vehicles as scheduled.

This content was produced with the assistance of AI translation services.