Tesla Model 3 New Version, Lower-Priced Chinese Import Coming

SUV 'Model Y' with Double Sales Volume and Similar Strategy
Enhancing Price Competitiveness with Reduced Capacity Battery

Tesla is importing the new compact electric sedan Model 3 from China. Previously, by switching the supply source of the sport utility vehicle (SUV) Model Y to China, Tesla lowered the price and gained popularity, and the new Model 3 is also expected to adopt a similar sales strategy.

According to the information posted on the automobile emission and noise certification system on the 19th, the new Model 3 rear-wheel basic version recently received certification in Korea for driving 382 km on a single charge (based on normal temperature combined standard; the same applies below). The long-range Model 3 travels 488 km. Both are made in China. Previously, the Model 3 imported into Korea was produced in the United States factory, but this has now changed.

Tesla Model 3 inside a Tesla store in Beijing, China
[Photo by Yonhap News]

Tesla previously sold the Model Y in a similar way. It first sold the US-made version domestically, but since last year, it has been importing and selling the China-made version. By using cheaper batteries or reducing capacity, the price was lowered. Although there are tariffs between Korea and China in automobile trade, the China-made Tesla has price competitiveness and the assembly quality has also been well received.

The Model Y and Model 3 are considered the main contributors to Tesla's business expansion. In recent years, Tesla has increased production by expanding factories outside the US, with these two models as the main models. The Model Y sold more than 1.08 million units worldwide last year. Including all electric and internal combustion engine models, it ranked first as a single model for two consecutive years. The Toyota compact sedan Corolla, competing for the top spot, is estimated to have just exceeded 1 million units.

In Korea, 13,885 units were sold last year, making it the third best-selling imported car model including internal combustion engine vehicles. The difference with domestic electric cars like the Ioniq 5 or EV6 is only about 2,000 to 3,000 units. Considering that sales started in the second half of the year and exports to Korea were adjusted depending on the supply situation of the Chinese factory, its popularity is considerable.

A vehicle is undergoing pre-delivery testing at the Tesla Gigafactory in Shanghai, China.
[Photo by Yonhap News]

The Model Y sales nearly doubled compared to a year ago, and the industry views the price reduction by switching to the China-made version as the main reason. Our authorities determine subsidies by comprehensively considering price and battery performance, and the China-made Model Y receives a high national subsidy of 5.14 million won.

In overseas markets where the new Model 3 was first released and sales began, the driving range slightly increased, but in Korea, it slightly decreased. The basic rear-wheel model’s range decreased by about 5%, and the long-range model’s by about 2%. Prospective buyers are very interested in the price level at which it will be set.

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