Six-Seat Model Y L Arrives from Shanghai... Priced at 64.99 Million Won
Tesla Korea has begun selling the Model Y L (Long Wheelbase), a six-seat, three-row variant with an extended wheelbase. Orders for the Model Y L are now available on the Tesla Korea website. A vehicle believed to be the Model Y L has also been spotted in Korea.
The most notable feature is the increased seating capacity compared to the standard model. Industry observers say the Model Y L is a strategic product that meets the space demands of Korean families while maintaining price competitiveness.
The key to the newly launched Model Y L is its expanded dimensions. The wheelbase has been extended by approximately 150mm compared to the standard Model Y, with the overall length reaching 4,976mm. This allowed Tesla to create a 2-2-2 layout six-seat configuration.
The third row is not cramped. Independent seats in the second row and an open center aisle allow easy access to the third row. Observers say this delivers the spacious multi-passenger experience typically associated with large SUVs.
The price is set at 64.99 million won (based on the Stealth Grey color option). Analysts say the vehicle could emerge as a compelling SUV option, potentially attracting buyers who were considering Hyundai Motor's (005380.KS) Palisade or Kia's (000270.KS) Carnival in the domestic family car market. Among electric SUVs specifically, the Model Y L is expected to compete head-to-head with the Kia EV9.
Why It's Not Sold in the U.S.
An interesting point is that the Model Y L is currently unavailable in the U.S. market. It is unusual that a model cannot be purchased in Tesla's home market. The reason is that the Model Y L is produced at Tesla's Gigafactory Shanghai.
Analysts say the Model Y L, which went on sale in Korea after its earlier launch in China, was primarily designed for the Chinese market, where consumers place a high premium on rear-seat space. Tesla introduced the Model Y L as a strategic model in China's increasingly competitive electric vehicle market. Exports to Korea and other Asian markets followed. The fact that Korea received the latest model before the United States underscores the strategic importance of the Korean market for Tesla.
Can EV Momentum Continue Amid High Oil Prices?
As Tesla expands its footprint in the Korean EV market, attention is turning to whether a potential conflict involving Iran could further boost EV demand. In this context, Tesla Korea has achieved a significant milestone.
Tesla became the first imported car brand to exceed 10,000 units in monthly sales in Korea. According to the Korea Automobile Importers & Distributors Association (KAIDA), new registrations of imported passenger vehicles in March totaled 33,970 units, up 34.6% year-on-year. Of these, Tesla accounted for 11,130 units. It is the first time a single imported brand has sold more than 10,000 units in a single month in Korea. The Tesla Model Y (6,749 units) and Model 3 (3,702 units) ranked first and second, respectively, in model-by-model sales last month.
Korea's Strategic Importance Grows Amid Global EV Slowdown
With Tesla's first-quarter global deliveries falling short of expectations, the Korean market is expected to become even more important for the company.
On April 2, Tesla announced that first-quarter global deliveries totaled 358,023 units, a 6% increase year-on-year. However, the figure fell short of the analyst consensus of 372,160 units compiled by Bloomberg. Tesla's deliveries have now missed market expectations for two consecutive quarters.
The Model 3 sedan and Model Y accounted for 341,893 units of total first-quarter deliveries. First-quarter vehicle production totaled 408,386 units. Cybertruck sales remain sluggish, according to analysts.