For years, Tesla Inc TSLA CEO Elon Musk has been adamant about not using celebrity promotions or paid advertisements to advertise the company's products.
While the company has come around to traditional advertising, Tesla could also be having a change of heart on the use of brand ambassadors and paid celebrity promotions.
What Happened: Tesla signed South Korean pistol shooter Kim Ye-ji as a brand ambassador, according to a report from Teslarati.
Ye-ji won a silver medal at the 2024 Summer Olympics and went viral for her stone-cold expression.
In a press release, Ye-ji said she hopes to "convey a positive message together with Tesla."
Musk tweeted about the shooter's performance at the 2024 Summer Olympics, which may have sparked the interest in a brand ambassador partnership to help boost Tesla's presence in South Korea, Electrek reported.
"The relationship between Kim Ye-ji and Tesla developed after Elon Musk mentioned her. The company said that Kim is Tesla Korea's first brand ambassador," Kim's agency said according to the report.
The shooter shared an image of herself and a Tesla vehicle on her Instagram, where she has over 127,000 followers.
Benzinga reached out to Tesla for comment and has not heard back.
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Why It's Important: Musk once shot down the idea of giving Snoop Dogg a free Tesla vehicle, reiterating the company's policy when it comes to celebrities.
"Everyone pays full price for a Tesla, including me," Musk said in February.
Musk has also highlighted the multiple celebrities who have purchased Cybertruck vehicles haven't been paid by the company or given free vehicles.
"No one receives a discount (including me) and no one is paid to promote our products," Musk said in February.
Tesla and Musk may have had a change of heart with the signing of Ye-ji, marking the first known celebrity ambassador deal for the car company.
Tesla has not officially confirmed the reports, but the signing wouldn't come as a huge surprise given Tesla's recent advertising on YouTube, X and at airports.
Tesla's sales in Korea totaled around 10,000 units in the first half of 2024, according to Electrek. While the total is low, the Tesla Model Y is the bestselling imported vehicle in the country.
The signing of the Korean shooter could help boost the company’s presence in South Korea, a country often dominated by domestic automakers.
Already gaining a strong following in Korea since the Olympics thanks to the silver medal and viral fame, the shooter is set to play as assassin in an upcoming movie, which is likely music to Musk's ears.
"She should be cast in an action movie," Musk previously tweeted. "No acting required!"
If Tesla is looking to expand its brand ambassador program to boost its presence in other international markets, Benzinga already has an idea for Japan. Benzinga previously said that Japanese baseball player Shohei Ohtani, who plays for the Los Angeles Dodgers, owns a Tesla Model X and could help boost the vehicle company in Japan given his strong following from his home country.
Price Action: Tesla stock is down 2% to $244.80 on Monday, versus a 52-week trading range of $138.80 to $273.54. Tesla stock is down 2% year-to-date in 2024.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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