Tesla sold just one electric car in South Korea last month

Tesla sold just one car in South Korea last month, highlighting the challenges the EV sector is facing in the country. A combination of factors including safety concerns over battery fires, unclear electric vehicle incentives, and a scarcity of fast-charging stations contributed to this sharp decline.

Tesla’s sole sale in January 2024 was a stark contrast to its previous performance, where it led as the country’s top imported EV brand. This downturn is indicative of broader issues affecting the EV market in South Korea, such as apprehensions about the quality of Chinese-made vehicles and regulatory changes impacting eligibility for tax breaks.

The situation is exacerbated by a high proportion of slow chargers despite South Korea having a significant number of charging stations, leading to long waiting times for drivers.

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