Tesla has finally lifted the curtain on a stripped‑down version of the Model 3 for the South Korean market. The entry‑level electric sedan will be priced at $28,300, a figure that sits $7,100 beneath the price of the current Korean offering. That matters because it places the Model 3 squarely in the affordable EV segment, a space traditionally dominated by local manufacturers.
The new variant arrives from Tesla’s Gigafactory in South Korea, a facility that has been churning out rear‑wheel‑drive, long‑range models for the past few years. The decision to produce a cheaper spec locally reduces import duties and logistics costs, a tactical move that could reshape pricing dynamics across the region. This changes things for buyers who have long waited for a true entry‑level Tesla.
The price cut does not come for free. Tesla has shaved off a number of comfort and convenience items to hit the $28,300 target. Leather upholstery is replaced with cloth upholstery, a material that feels less premium but saves a significant amount of cost. The infotainment system loses its radio function, and the steering wheel loses power‑adjustment capability. Front‑seat power‑adjustment is also gone, meaning occupants must manually move the seat.
Even climate control sees a rollback. While the front seats retain heating, the ventilation ducts have been stripped out. The rear seats lose heating altogether. These compromises are stark, yet they keep the vehicle’s price competitive. That matters for a market where every feature carries a visible price tag.
Performance figures tell a clear story. The standard Model 3 can sprint from 0 to 100 km/h in 5.2 seconds and travel up to 583 km on a single charge. The budget version, however, will manage the same sprint in 6.2 seconds and its range contracts to 382 km.
The slower acceleration stems from a detuned powertrain and reduced battery capacity, both necessary to meet the lower price point. The range reduction is a direct consequence of the smaller pack, which also means longer charging sessions for owners. Yet, the vehicle still offers a respectable electric driving experience, especially in urban environments where daily commutes rarely exceed 50 km. This changes things for city dwellers who can now afford a Tesla without sacrificing practicality.
Tesla’s move is more than a simple price adjustment; it is a strategic signal aimed at the broader Asian market. By offering a $28,300 Model 3 in South Korea, Tesla creates a pricing anchor that can be replicated in neighboring markets. The company has already hinted that the same version will appear in China with a price of $24,300, a figure that would undercut many local EVs.
The Asian EV landscape is heating up, with manufacturers like Hyundai, Kia and BYD rolling out competitive models at similar price points. Tesla’s budget Model 3 could force these rivals to accelerate their own cost‑cutting programmes. It also aligns with the region’s growing demand for affordable, high‑tech mobility solutions. That matters because the next few years will decide which brand dominates the mass‑market EV segment.
Industry insiders expect the Chinese rollout to follow closely after the Korean launch, though an exact date has not been disclosed. Production will likely occur at the same Gigafactory, leveraging existing tooling and supply chains. If the $24,300 price tag holds, the Chinese version could become the most affordable Tesla ever sold in the world.
The timing will be crucial. Chinese consumers are already accustomed to aggressive pricing from domestic brands, and any delay could hand the advantage to competitors. Tesla’s ability to deliver a low‑cost model quickly will test its manufacturing agility and supply‑chain resilience. This changes things for the brand’s global strategy, as success in China could pave the way for similar budget versions in Europe and the United States.
Q: What is the exact price of the new Model 3 in South Korea? A: The entry‑level Model 3 is priced at $28,300, which is $7,100 less than the current Korean version.
Q: How does the range of the cheaper Model 3 compare to the standard version? A: The budget model offers a range of 382 km, while the standard Model 3 can travel up to 583 km on a single charge.
Q: When will the low‑cost Model 3 be available in China and at what price? A: Tesla plans to launch the same version in China with a price of $24,300, but an official launch date has not been announced.
Q: Which interior features are removed from the affordable version? A: Leather upholstery is replaced with cloth upholstery, the radio function is omitted, power‑adjustable steering wheel and front‑seat controls are removed, and rear‑seat heating is eliminated.
Q: Does the reduced price affect the vehicle’s performance? A: Yes, 0‑100 km/h acceleration slows to 6.2 seconds from 5.2 seconds, and the driving range drops to 382 km.
Q: How does this launch fit into Tesla’s broader Asian strategy? A: By offering a budget‑friendly Model 3, Tesla aims to capture price‑sensitive buyers across Asia, challenge local EV makers, and establish a foothold for future low‑cost models.
Nepal Auto-Trader is one-stop platform for all automotive needs. We provide unbiased and unparalleled news/reviews of all auto-motives being launched in Nepalese Auto-Industry. Find recent updates and price of bikes/cars, compare and review recently launched bikes/cars, buy/sell/trade reconditioned cars/bikes and all government news about changing rules and regulation, road safety by subscribing us.
Subscribe to our Newsletter
© Copyright 2026, Nepal Autotrader
.png)
.png)