SEOUL, Nov. 4 (Korea Bizwire) — While overall sales in the global automotive industry have plummeted, demand for imported electric vehicles (EVs) among South Korean consumers continues to grow, with no signs of the market cooling down. One-third of electric cars sold through the third quarter this year were imported cars, with Tesla Inc. leading [...]
SEOUL, Aug. 3 (Korea Bizwire) — U.S. electric vehicle maker Tesla Inc. has suspended sales of the Model 3 Long Range, the company’s most popular EV in South Korea, raising complaints that the company is discriminating against the South Korean market. The company announced via its website that it will suspend orders for the Model 3 [...]
SEOUL, June 22 (Korea Bizwire) — A South Korean civic group on Tuesday filed a complaint with the prosecution against American electric vehicle company Tesla and its CEO Elon Musk, alleging that they have covered up defects in cars sold here. The civic group, which calls itself the “Citizens United for Consumer Sovereignty,” said it [...]
SEOUL, June 3 (Korea Bizwire) — U.S. electric vehicle maker Tesla’s newly released Model Y was the top-selling foreign car model in South Korea last month, beating German luxury brand Mercedes-Benz’s E-Class, industry data showed Thursday. A total of 3,461 Tesla’s vehicles were registered in May, sharply up from 76 in April, thanks to the [...]
SEOUL, May 18 (Korea Bizwire) — South Korean retail investors buying foreign stocks have turned to net sellers of shares in electric vehicle leader Tesla Motors Inc. for the first time in the past 18 months. While Tesla’s share price has fallen this month, its CEO Elon Musk’s recent behavior has also risen as a [...]
SEOUL, April 15 (Korea Bizwire) — U.S. electric vehicle maker Tesla Inc.’s sales in South Korea nearly quadrupled last year from a year earlier on rising popularity of its vehicles, its financial statement showed Thursday. Tesla Korea said in a regulatory filing that it logged 716.2 billion won (US$640 million) in sales in the Korean [...]
SEOUL, April 1 (Korea Bizwire) — Police said Thursday a designated driver was likely to blame for a Tesla EV-involved accident that killed one person last year, and no mechanical failures were discovered in the forensic analysis. The Yongsan Police Station said the 60-year-old driver, surnamed Choi, was at fault in the accident in which [...]
SEOUL, Feb. 15 (Korea Bizwire) — South Korea’s state pension fund is estimated to have chalked up massive profits from its holdings of shares in electric vehicle leader Tesla Motors Inc. with the share price rising at an explosive pace in recent years. The National Pension Service (NPS) made its first disclosure that it owned [...]
SEOUL, Feb. 12 (Korea Bizwire) — U.S. electric vehicle maker Tesla Inc. on Friday launched its compact sport utility vehicle (SUV), the Model Y, in South Korea as it tries to boost sales in the country. Tesla Korea said the Model Y is available in three trim levels here, with the starting price for the [...]
SEOUL, Jan. 25 (Korea Bizwire) — South Korean retail investors’ holdings of shares in electric vehicle leader Tesla Motors Inc. soared nearly 32 percent this year to cross the US$10 billion mark, data showed Monday. Local individual investors owned $10.33 billion worth of Tesla shares as of Friday, up 31.9 percent from the end of [...]