BUSINESS

Tesla Model S 90D to receive subsidies in Korea

By Kim Bo-gyung
  • Published : Sept 22, 2017 - 15:47
  • Updated : Sept 22, 2017 - 15:47
The Ministry of Environment has finalized subsidies for Telsa Model S 90D sedans based on eased regulations for the total time it takes to fully charge the electric vehicle, the ministry said Friday.

Prior to the change in July, the 14 million won ($12,319) central government subsidy and provincial government subsidy was limited to electric vehicles that take less than 10 hours per charge.

Subsidies offered by each provincial government differs, ranging from 3 million to 12 million won. Seoul city offers 5.5 million won.

Motorists purchasing the Model S 90D can now receive up to 24 million won in subsidy, which drops the price of the EV to some 90 million won.

There have been complaints among local drivers regarding the regulation, as the Tesla Model S 90D has a longer than average driving range per charge of 378 kilometers.

It takes about 14 hours to fully reload the 113 million won model. 

Tesla Model S. (Telsa)

Following the latest decision by the ministry, drivers here are paying attention to whether subsidies will also be offered for the Model S 75D and Model S 100D.

With subsidies offered by the central and provincial governments, the price tag of the 99.45 million won Model S 75D will be lowered to about 70 million won, rivaling premium midsize sedans.

By Kim Bo-gyung (lisakim425@heraldcorp.com)