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Korean EVs at Risk as Tesla Announces Cheaper Model

Korean EVs at Risk as Tesla Announces Cheaper Model

SEOUL, Sept. 28 (Korea Bizwire) — Prices of domestic electric vehicles (EVs) are gaining attention following Tesla Motors Inc.’s recent announcement that it will come up with a new EV model that costs as little as US$25,000 within the next three years. Experts expect that domestic EV manufacturers will need at least four or five [...]

S. Korean Stock Investors Swoop on Tesla in H2

S. Korean Stock Investors Swoop on Tesla in H2

SEOUL, Sept. 9 (Korea Bizwire) — Electric vehicle leader Tesla Motors Inc. has been South Korean investors’ most-bought issue among foreign shares since July amid an overseas stock buying craze here, data showed Wednesday. Domestic investors bought a net US$1.56 trillion won worth of Tesla shares between July 1 and Tuesday, according to the data [...]

S. Korea to Overhaul Subsidy Scheme for EV Cars

S. Korea to Overhaul Subsidy Scheme for EV Cars

SEOUL, Aug. 9 (Korea Bizwire) — South Korea’s environment ministry said Sunday that it will revamp a subsidy scheme for electric vehicles (EVs), with the current proposal centering on excluding high-priced EVs from the subsidy recipients. The country’s fat subsidies for EVs have been a major contributor to the popularity of eco-friendly cars. The overhaul [...]

Seoul Begins Probe into Possible Faulty Parts in Tesla Model

Seoul Begins Probe into Possible Faulty Parts in Tesla Model

SEOUL, July 28 (Korea Bizwire) — South Korea’s transport ministry said Tuesday it has recently ordered a probe into Tesla Motors Inc.’s Model 3 for possible problems with parts. The Korea Automobile Testing & Research Institute (KATRI) of the Korea Transportation Safety Authority is looking into whether the Model 3′s Autopilot driver-assist feature has any [...]

Tesla Sweeps over Government Subsidies amid Suspected Tax Evasion

Tesla Sweeps over Government Subsidies amid Suspected Tax Evasion

SEOUL, July 14 (Korea Bizwire) — Is it an attempt to evade car acquisition taxes, or to offer more choices to customers? U.S. electric carmaker Tesla Motors Inc. allows customers to purchase Full Self-Driving (FSD) systems priced at 9 million won (US$7,500) even after the customers buy a non-FSD model. Purchasing a separate option after [...]

Tesla Leads Imported EV Sales in S. Korea

Tesla Leads Imported EV Sales in S. Korea

SEOUL, May 26 (Korea Bizwire) — While sales of imported cars, led by U.S. electric carmaker Tesla Motors Inc.’s Model 3, have jumped, Korean-made electric vehicles (EVs) are being sidelined. The Korea Automobile Manufacturers Association and Korea Automobile Importers & Distributors Association reported a 40.1 percent increase in EV sales between January and April compared [...]