Tesla Model 3 Standard Range Launches in Korea, Starting at ~$27,000

Tesla has launched the Model 3 Standard Rear-Wheel Drive (RWD) in South Korea, with an official starting price of KRW 41.99 million (approximately RMB 198,000). After government subsidies, the price drops as low as RMB 174,000, making it the most affordable Model 3 globally. Produced at Tesla’s Gigafactory Shanghai, this version sees its range reduced from 583 km to 382 km, and its 0–100 km/h acceleration time extended to 6.2 seconds. Certain features have been simplified—such as fewer speakers and the removal of the rear-seat display—but safety specifications remain unchanged. With localization of parts sourcing at Gigafactory Shanghai exceeding 95%, domestically produced Model 3 and Model Y vehicles are expected to see further price reductions. In China, the standard-range Model 3 could potentially drop below RMB 200,000, lowering the entry barrier and attracting more consumers.