Tesla has recently launched the Model 3 Standard in South Korea, making it home to the cheapest Model 3 in the world. Priced at 41,990,000 won (approximately $28,000 USD), this model offers great value for buyers in the Korean market. With local EV subsidies applied, the price drops even further, allowing some customers to purchase a brand-new Model 3 for around $25,000.
Manufactured at Gigafactory Shanghai and shipped directly to South Korea, this particular variant of the Model 3 is not yet available in China. Despite Tesla selling four different Model 3 trims in China, the Model 3 Standard has not been officially launched in the Chinese market. However, it seems likely that a domestic China launch is on the horizon.
The Korean-market Model 3 Standard boasts a range of 382 km (237 miles), a top speed of 201 km/h (125 mph), and accelerates from 0 to 100 km/h in 6.2 seconds. Positioned as a Rear-Wheel Drive entry model focused on affordability rather than performance, it still offers Tesla’s signature minimalist design, software-first approach, and over-the-air updates.
In addition to the Model 3 Standard, Tesla Korea has also introduced the Model 3 Long Range RWD, providing buyers with a higher-range option without the need to upgrade to All-Wheel Drive. This dual launch aligns with Tesla’s global strategy of expanding lower-cost trims to increase volume and defend market share amidst growing competition.
Compared to the U.S. market where the Model 3 Standard was launched at $36,990 USD, the aggressive pricing in South Korea is evident. The Korean price, before subsidies, is nearly $9,000 lower than the U.S. price, showcasing Tesla’s commitment to offering competitive pricing in the Korean market.
As Tesla continues to experience strong momentum in South Korea, the country is quickly becoming one of the automaker’s most strategically important markets in Asia. With competitive pricing, Shanghai-built supply, and advanced software features, Tesla is solidifying its presence and success in South Korea.