Rolls-Royce Motor Cars has introduced its inaugural all-electric model, named Spectre, in South Korea, marking the brand’s first foray into battery-powered vehicles in the Asia-Pacific region. Recognizing the potential for growth in Asia’s fourth-largest economy, the British automaker aims to capitalize on the expanding market demand for electric luxury vehicles.
Rolls-Royce announced that South Korea has been chosen as the first country in the Asia-Pacific region to launch the fully electric Spectre model. This strategic decision underscores the brand’s commitment to establishing a strong presence in the region. By introducing its battery-powered vehicle in South Korea, Rolls-Royce aims to leverage the country’s growing affinity for electric vehicles and its position as a key market for luxury automobiles.
The Spectre model is available in South Korea with a base price of 620 million won ($486,000), with additional costs depending on custom options. Although Rolls-Royce did not disclose the exact number of pre-orders, the company confirmed that it has received significant interest from the rapidly expanding Korean market. The ordered Spectres are expected to be delivered to customers in the fourth quarter, according to reports from Yonhap news agency.
Rolls-Royce’s sales growth in Korea is influenced by various factors, including the country’s economic climate and the rising number of businessmen. Irene Nikkein, regional director of Rolls-Royce’s Asia-Pacific operations, expressed confidence in the Korean market’s long-term growth potential, citing the country’s development and government investments. The company believes that Korea’s favorable conditions create a promising landscape for the luxury automaker to thrive in the region.
Rolls-Royce first entered the Korean market in 2004 and has steadily expanded its presence over the years. Its current lineup in Korea includes esteemed models such as the Phantom, Ghost, and Cullinan. As a subsidiary of the BMW Group, Rolls-Royce joins BMW and Mini in offering their renowned vehicles in the Korean market.
Reflecting the growing trend towards sustainable transportation, Rolls-Royce plans to electrify its entire lineup by 2030. The brand aims to align with other luxury automakers, including Bentley from the Volkswagen Group and Land Rover from Jaguar Land Rover, in embracing the transition to electric vehicles. This commitment underscores Rolls-Royce’s dedication to providing environmentally friendly and technologically advanced options for its discerning customers.