Tesla (TSLA) begins sale of Model Y in South Korea

Tesla (NASDSAQ: TSLA) opened sales for their Model Y rear wheel drive electric vehicle in South Korea Friday. A move that is expected to further accelerate the adoption of electric vehicles in the country.

As per the company's website, the listed price for the Model is 56.99 million won ($45,139), which qualifies it for the highest level of government subsidies. Tesla mentioned that by taking advantage of subsidies along with their referral program, the price can be reduced to below 50 million won.

According to the electric automaker, Tesla’s Model Y can reach a driving range of 350km (217.48 miles) reaching top speeds of 217kph and is available for delivery between August and September.

According to reports from local media, the Tesla Model Y vehicles were manufactured in China. Tesla Korea confirmed this through a tweet, sharing a video showcasing the production process at their Gigafactory in Shanghai before the vehicles were shipped.

Shares of TSLA are up 0.03% in pre-market trading on Friday.

By Michael Elkins | [email protected]

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