U.S. electric vehicle manufacturer Tesla has raised the domestic sales prices of its vehicles by up to 7 million won starting today.

As the price hike comes on the very first day that second-half subsidies take effect, consumers are criticizing the move, questioning whether government subsidy benefits are simply being absorbed by the price increases.

Tesla Korea announced that as of today, July 1, the price of the sedan Model 3 Premium Long Range RWD has been increased from 52.99 million won to 59.99 million won.

In addition, the prices for the Model 3 RWD and Model 3 Performance have each been raised by 5 million won, while the SUV models Model Y Premium Long Range AWD and Model Y L have seen increases of 3 million won each.

Only the Model Y Premium model, which became the first imported vehicle to rank first in monthly domestic sales this past May, has maintained its existing price.

This price hike comes just one day after the government decided to maintain electric vehicle purchase subsidies for 27 companies, including Tesla Korea.

Yesterday, the Ministry of Climate, Energy and Environment announced the results of the "Electric Vehicle Supply Project Operator Selection Evaluation," a system designed to ensure that only automakers and importers contributing to the domestic electric vehicle ecosystem receive purchase subsidy benefits. While the Chinese company BYD was excluded from the subsidy list, the U.S. company Tesla was included.

Tesla Korea explained, "There has been pressure to raise prices due to factors such as exchange rates and rising raw material costs," adding, "The price increase was inevitable and is unrelated to the subsidies."

However, as Tesla significantly raised its prices on the very first day the subsidy support took effect, as if waiting for the moment, consumers have voiced their frustration, saying, "I had no idea vehicle prices would suddenly jump by millions of won like this," and "Isn't the subsidy being used as an excuse for the manufacturer to raise prices?"

Reported by Kim Taewon | Video by JIN Yujin | Graphics by Lee Jeong-ju | Produced by SBS Digital News